Meeder Asset Management Inc. Invests $1.09 Million in Teleflex Incorporated (NYSE:TFX)

Meeder Asset Management Inc. acquired a new stake in Teleflex Incorporated (NYSE:TFX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 6,145 shares of the medical technology company’s stock, valued at approximately $1,094,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock worth $66,650,000 after buying an additional 111,086 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Teleflex by 14.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,498 shares of the medical technology company’s stock worth $15,952,000 after purchasing an additional 7,907 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Teleflex in the third quarter valued at approximately $200,000. Glenmede Trust Co. NA grew its position in shares of Teleflex by 5.9% in the third quarter. Glenmede Trust Co. NA now owns 4,481 shares of the medical technology company’s stock valued at $1,108,000 after purchasing an additional 249 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Teleflex by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 333,260 shares of the medical technology company’s stock valued at $82,422,000 after purchasing an additional 7,379 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Down 1.2 %

Teleflex stock opened at $137.76 on Monday. The company has a market capitalization of $6.39 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a fifty-two week low of $128.55 and a fifty-two week high of $249.91. The firm has a 50 day moving average price of $159.20 and a 200 day moving average price of $189.98.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. Teleflex’s dividend payout ratio is presently 95.77%.

Analyst Ratings Changes

Several brokerages have issued reports on TFX. Bank of America cut Teleflex from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.63.

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.