Sanctuary Advisors LLC Grows Holdings in Teleflex Incorporated (NYSE:TFX)

Sanctuary Advisors LLC lifted its position in shares of Teleflex Incorporated (NYSE:TFX) by 9.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,877 shares of the medical technology company’s stock after purchasing an additional 437 shares during the period. Sanctuary Advisors LLC’s holdings in Teleflex were worth $1,206,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Teleflex by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after acquiring an additional 26,325 shares during the period. Verdence Capital Advisors LLC purchased a new stake in shares of Teleflex during the second quarter worth about $321,000. Conestoga Capital Advisors LLC raised its position in shares of Teleflex by 18.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 73,829 shares of the medical technology company’s stock worth $15,528,000 after purchasing an additional 11,517 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Teleflex by 19.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,356 shares of the medical technology company’s stock valued at $5,964,000 after buying an additional 4,561 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. boosted its holdings in Teleflex by 33.0% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 48,046 shares of the medical technology company’s stock worth $10,106,000 after buying an additional 11,925 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on TFX. Truist Financial reduced their target price on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a report on Wednesday. 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. Mizuho dropped their target price 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. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.50.

Teleflex Trading Up 1.9 %

Shares of TFX opened at $178.16 on Friday. Teleflex Incorporated has a 12-month low of $171.69 and a 12-month high of $256.85. The firm has a market capitalization of $8.27 billion, a P/E ratio of 35.42, a P/E/G ratio of 1.84 and a beta of 1.16. The firm has a 50-day moving average price of $202.44 and a 200 day moving average price of $219.43. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

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

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.34 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.76%. Teleflex’s dividend payout ratio is currently 27.04%.

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.