Capital Performance Advisors LLP Makes New $54,000 Investment in Teleflex Incorporated (NYSE:TFX)

Capital Performance Advisors LLP acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 217 shares of the medical technology company’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in Teleflex by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 80,409 shares of the medical technology company’s stock worth $19,887,000 after purchasing an additional 2,086 shares in the last quarter. Sentry Investment Management LLC bought a new stake in Teleflex during the 3rd quarter worth approximately $59,000. QRG Capital Management Inc. bought a new stake in Teleflex during the 3rd quarter worth approximately $509,000. Forum Financial Management LP bought a new stake in Teleflex during the 3rd quarter worth approximately $215,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Teleflex during the 3rd quarter worth approximately $687,000. 95.62% of the stock is owned by institutional investors.

Teleflex Price Performance

Shares of NYSE TFX opened at $195.55 on Friday. The stock has a fifty day simple moving average of $235.39 and a two-hundred day simple moving average of $223.70. Teleflex Incorporated has a 1-year low of $194.58 and a 1-year high of $257.85. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 38.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.64 earnings per share. Analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.70%. Teleflex’s dividend payout ratio is currently 27.04%.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now owns 5,496 shares in the company, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

TFX has been the subject of several recent analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Mizuho reduced their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Royal Bank of Canada reduced their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

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.