Public Sector Pension Investment Board Raises Position in Teleflex Incorporated (NYSE:TFX)

Public Sector Pension Investment Board raised its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 16.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,099 shares of the medical technology company’s stock after buying an additional 300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Teleflex were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC boosted its position in shares of Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 49 shares during the last quarter. Avior Wealth Management LLC raised its stake in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Teleflex during the third quarter valued at approximately $40,000. GAMMA Investing LLC grew its stake in Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Teleflex in the 2nd quarter worth $42,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Trading Down 1.0 %

Shares of TFX stock opened at $184.65 on Monday. The business has a 50-day moving average of $214.17 and a 200 day moving average of $221.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a 1-year low of $184.23 and a 1-year high of $257.85. The stock has a market capitalization of $8.58 billion, a PE ratio of 36.71, a P/E/G ratio of 1.92 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the prior year, the firm posted $3.64 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TFX shares. Mizuho dropped their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Royal Bank of Canada decreased their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Three equities 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 company has an average rating of “Moderate Buy” and a consensus target price of $259.00.

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.