MBB Public Markets I LLC Makes New $700,000 Investment in Teleflex Incorporated (NYSE:TFX)

MBB Public Markets I LLC purchased a new stake in shares of Teleflex Incorporated (NYSE:TFX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,330 shares of the medical technology company’s stock, valued at approximately $700,000.

A number of other hedge funds have also modified their holdings of TFX. Janus Henderson Group PLC increased its position in Teleflex by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Teleflex by 564.3% in the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock worth $65,304,000 after buying an additional 263,743 shares during the last quarter. Cooke & Bieler LP raised its position in Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after acquiring an additional 172,335 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in Teleflex in the second quarter valued at approximately $25,550,000. Finally, National Bank of Canada FI increased its stake in shares of Teleflex by 1,008.2% during the 2nd quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock worth $24,388,000 after purchasing an additional 104,935 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Teleflex Price Performance

NYSE:TFX opened at $245.13 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. The stock has a market cap of $11.55 billion, a P/E ratio of 39.35, a PEG ratio of 2.24 and a beta of 1.16. The company has a fifty day moving average price of $238.41 and a 200 day moving average price of $221.58. Teleflex Incorporated has a one year low of $177.63 and a one year high of $257.85.

Teleflex (NYSE:TFX) last released 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. The business had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $3.41 earnings per share. Analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a $0.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.36 annualized dividend and a yield of 0.55%. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Analysts Set New Price Targets

TFX has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial increased their price objective on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a report on Monday, August 5th. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Finally, Stephens lifted their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

Insiders Place Their Bets

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

About Teleflex

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.