Sumitomo Mitsui Trust Group Inc. Purchases 2,545 Shares of Teleflex Incorporated (NYSE:TFX)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,909 shares of the medical technology company’s stock after buying an additional 2,545 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Teleflex worth $25,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tidal Investments LLC grew its position in Teleflex by 214.7% in the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock valued at $1,503,000 after acquiring an additional 4,533 shares during the last quarter. Boston Trust Walden Corp increased its stake in Teleflex by 2.7% in the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after buying an additional 6,076 shares during the period. Russell Investments Group Ltd. increased its stake in Teleflex by 15.8% in the 1st quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock worth $4,245,000 after buying an additional 2,570 shares during the period. Sei Investments Co. boosted its position in Teleflex by 22.0% in the 1st quarter. Sei Investments Co. now owns 23,012 shares of the medical technology company’s stock valued at $5,205,000 after buying an additional 4,156 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Teleflex by 876.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock worth $4,538,000 after acquiring an additional 19,367 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on TFX shares. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Truist Financial reiterated a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Up 0.9 %

Shares of Teleflex stock opened at $192.15 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.92 billion, a P/E ratio of 38.20, a PEG ratio of 1.99 and a beta of 1.18. The firm’s 50 day moving average price is $230.35 and its 200-day moving average price is $223.19. Teleflex Incorporated has a 52-week low of $189.95 and a 52-week high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly 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. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same period in the previous year, the company earned $3.64 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio is presently 27.04%.

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.