Kimelman & Baird LLC Buys Shares of 100,948 Teleflex Incorporated (NYSE:TFX)

Kimelman & Baird LLC purchased a new position in shares of Teleflex Incorporated (NYSE:TFX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 100,948 shares of the medical technology company’s stock, valued at approximately $21,232,000. Teleflex comprises approximately 1.8% of Kimelman & Baird LLC’s holdings, making the stock its 21st biggest position.

Several other large investors have also modified their holdings of TFX. Oregon Public Employees Retirement Fund grew its stake in Teleflex by 1.2% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock valued at $846,000 after purchasing an additional 46 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Teleflex by 1.9% during the second 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 boosted its position in shares of 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 period. Empirical Finance LLC boosted its holdings in shares of Teleflex by 3.9% in the first quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock worth $354,000 after buying an additional 58 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in Teleflex by 0.3% during 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 in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Performance

NYSE:TFX opened at $246.83 on Monday. The firm’s 50-day moving average is $237.48 and its 200-day moving average is $221.17. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 2.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 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 firm had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same quarter in the prior year, the firm posted $3.41 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research 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. Stockholders of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s payout ratio is 21.83%.

Insider Activity

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $1,313,159.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.