Assenagon Asset Management S.A. Purchases 98,735 Shares of Teleflex Incorporated (NYSE:TFX)

Assenagon Asset Management S.A. raised its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 457.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,311 shares of the medical technology company’s stock after acquiring an additional 98,735 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.26% of Teleflex worth $29,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFX. Canada Pension Plan Investment Board bought a new position in Teleflex in the second quarter valued at $42,000. GAMMA Investing LLC grew its holdings in shares of Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after acquiring an additional 97 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares during the last quarter. Blue Trust Inc. raised its holdings in Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 93 shares in the last quarter. Finally, Quarry LP acquired a new position in Teleflex during the second quarter valued at approximately $48,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TFX. Truist Financial boosted their price target on Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and increased their price target for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Teleflex presently has an average rating of “Moderate Buy” and an average target price of $268.86.

Teleflex Stock Down 0.8 %

Shares of TFX opened at $233.65 on Friday. The firm has a market cap of $11.01 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 2.15 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. The firm’s 50-day simple moving average is $241.03 and its 200 day simple moving average is $223.68.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The company had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. On average, analysts forecast that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

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 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, August 15th. Teleflex’s dividend payout ratio is 24.42%.

Insider Buying and Selling at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.43% of the company’s stock.

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.