Teleflex Incorporated (NYSE:TFX) Stock Position Increased by State of Michigan Retirement System

State of Michigan Retirement System boosted its position in Teleflex Incorporated (NYSE:TFX) by 0.8% during the 1st quarter, HoldingsChannel reports. The firm owned 12,917 shares of the medical technology company’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Teleflex were worth $2,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Buffington Mohr McNeal increased its stake in Teleflex by 4.7% during the 1st quarter. Buffington Mohr McNeal now owns 4,480 shares of the medical technology company’s stock valued at $1,013,000 after buying an additional 200 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Teleflex by 15.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,319 shares of the medical technology company’s stock valued at $5,953,000 after buying an additional 3,597 shares during the period. Thompson Investment Management Inc. increased its stake in Teleflex by 8.5% during the 1st quarter. Thompson Investment Management Inc. now owns 2,540 shares of the medical technology company’s stock valued at $574,000 after buying an additional 200 shares during the period. Riverview Trust Co acquired a new position in Teleflex during the 1st quarter valued at about $31,000. Finally, Steph & Co. increased its stake in Teleflex by 124.8% during the 1st quarter. Steph & Co. now owns 742 shares of the medical technology company’s stock valued at $168,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TFX shares. Truist Financial lowered their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $205.00 to $245.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.14.

Teleflex Stock Performance

Shares of TFX opened at $211.69 on Thursday. The firm’s 50 day moving average is $207.94 and its 200-day moving average is $225.31. The stock has a market capitalization of $9.97 billion, a P/E ratio of 33.98, a P/E/G ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $262.97.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The company had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. During the same quarter in the previous year, the company posted $3.09 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Teleflex Incorporated will post 13.75 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 14th. Teleflex’s payout ratio is 21.83%.

Teleflex 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.