Pathstone Holdings LLC Grows Stock Position in Teleflex Incorporated (NYSE:TFX)

Pathstone Holdings LLC lifted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,700 shares of the medical technology company’s stock after purchasing an additional 2,245 shares during the quarter. Pathstone Holdings LLC’s holdings in Teleflex were worth $2,152,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Teleflex by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after purchasing an additional 46 shares during the last quarter. Cromwell Holdings LLC raised its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Teleflex by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after acquiring an additional 53 shares in the last quarter. Apollon Wealth Management LLC raised its position in Teleflex by 3.7% in the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after acquiring an additional 55 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Teleflex by 0.3% in the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TFX. Truist Financial reiterated a “hold” rating and issued a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Finally, Royal Bank of Canada lowered their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Down 1.9 %

TFX opened at $191.02 on Wednesday. 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 firm has a market cap of $8.87 billion, a P/E ratio of 37.98, a PEG ratio of 1.96 and a beta of 1.18. Teleflex Incorporated has a 52 week low of $185.66 and a 52 week high of $257.85. The business’s fifty day simple moving average is $222.95 and its 200 day simple moving average is $222.87.

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

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is currently 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.