IFM Investors Pty Ltd Acquires Shares of 8,688 Teleflex Incorporated (NYSE:TFX)

IFM Investors Pty Ltd acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX) in the 1st quarter, Holdings Channel reports. The firm acquired 8,688 shares of the medical technology company’s stock, valued at approximately $1,965,000.

Several other institutional investors have also bought and sold shares of the business. Allworth Financial LP raised its stake in shares of Teleflex by 332.3% in the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 103 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Teleflex in the third quarter valued at $27,000. Covestor Ltd raised its stake in shares of Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Riverview Trust Co purchased a new stake in shares of Teleflex in the first quarter valued at $31,000. Finally, Lindbrook Capital LLC raised its stake in shares of Teleflex by 75.3% in the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Institutional investors own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

TFX has been the topic of several recent analyst reports. Royal Bank of Canada reduced their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Truist Financial reduced their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $267.50.

Teleflex Price Performance

NYSE TFX remained flat at $206.71 during trading on Friday. 433,169 shares of the company’s stock were exchanged, compared to its average volume of 249,291. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The company has a 50-day simple moving average of $221.23 and a 200 day simple moving average of $226.03. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $276.43.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The business had revenue of $773.90 million for the quarter, compared to the consensus estimate of $769.01 million. During the same quarter last year, the firm posted $3.52 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio is currently 18.06%.

Insider Activity

In other news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.