Deerfield Management Company L.P. Series C Takes Position in Teleflex Incorporated (NYSE:TFX)

Deerfield Management Company L.P. Series C purchased a new position in shares of Teleflex Incorporated (NYSE:TFX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,482 shares of the medical technology company’s stock, valued at approximately $1,153,000.

Several other hedge funds have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in Teleflex by 1.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock valued at $846,000 after buying an additional 46 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Teleflex by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock valued at $584,000 after purchasing an additional 53 shares during the last quarter. KBC Group NV lifted its position in Teleflex by 1.8% in the 4th quarter. KBC Group NV now owns 3,173 shares of the medical technology company’s stock valued at $791,000 after purchasing an additional 55 shares during the last quarter. Empirical Finance LLC boosted its stake in Teleflex by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock valued at $354,000 after purchasing an additional 58 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in Teleflex by 0.3% in the 2nd quarter. SRS Capital Advisors Inc. now owns 19,527 shares of the medical technology company’s stock worth $4,107,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TFX shares. Royal Bank of Canada lifted their price target on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Truist Financial boosted their price target on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens lifted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.57.

Insider Buying and Selling

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

Teleflex Price Performance

NYSE:TFX opened at $245.02 on Thursday. 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 $11.54 billion, a P/E ratio of 39.33, a PEG ratio of 2.22 and a beta of 1.16. The business’s 50-day moving average price is $236.48 and its 200 day moving average price is $220.91.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. During the same quarter in the prior year, the company earned $3.41 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s payout ratio is 21.83%.

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.