Distillate Capital Partners LLC Makes New $14.50 Million Investment in Teleflex Incorporated (NYSE:TFX)

Distillate Capital Partners LLC acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) during the 2nd quarter, Holdings Channel reports. The fund acquired 68,915 shares of the medical technology company’s stock, valued at approximately $14,495,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in shares of Teleflex by 67.2% during the 4th quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 92 shares during the last quarter. US Bancorp DE raised its stake in Teleflex by 69.7% during the fourth quarter. US Bancorp DE now owns 11,884 shares of the medical technology company’s stock worth $2,963,000 after purchasing an additional 4,881 shares during the period. Advisory Services Network LLC purchased a new position in shares of Teleflex in the 4th quarter worth $176,000. Nomura Asset Management Co. Ltd. grew its position in Teleflex by 9.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 12,397 shares of the medical technology company’s stock valued at $3,091,000 after acquiring an additional 1,055 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Teleflex by 33.6% in the 4th quarter. Intech Investment Management LLC now owns 3,474 shares of the medical technology company’s stock valued at $866,000 after acquiring an additional 874 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

NYSE:TFX opened at $244.87 on Tuesday. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.53 billion, a P/E ratio of 39.30, a PEG ratio of 2.23 and a beta of 1.16. The business’s 50-day moving average price is $235.85 and its 200 day moving average price is $220.59.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same period last year, the firm posted $3.41 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.56%. Teleflex’s dividend payout ratio is currently 21.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and increased their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial increased their target price on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $265.57.

Insider Activity at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.43% of the stock is owned by insiders.

Teleflex Company Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.