Goldman Sachs Group Inc. Increases Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Goldman Sachs Group Inc. increased its holdings in Teleflex Incorporated (NYSE:TFX) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,959 shares of the medical technology company’s stock after acquiring an additional 17,669 shares during the quarter. Goldman Sachs Group Inc. owned about 0.37% of Teleflex worth $42,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC lifted its stake in Teleflex by 6.8% in the third quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock worth $964,000 after acquiring an additional 314 shares during the period. Victory Capital Management Inc. lifted its stake in Teleflex by 47.8% in the fourth quarter. Victory Capital Management Inc. now owns 21,865 shares of the medical technology company’s stock worth $5,452,000 after acquiring an additional 7,070 shares during the period. BNP Paribas Financial Markets lifted its position in Teleflex by 35.5% during the fourth quarter. BNP Paribas Financial Markets now owns 39,735 shares of the medical technology company’s stock valued at $9,908,000 after buying an additional 10,405 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Teleflex by 243.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock valued at $5,666,000 after buying an additional 16,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Teleflex by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 405,203 shares of the medical technology company’s stock valued at $101,033,000 after buying an additional 12,150 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TFX. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Royal Bank of Canada dropped their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a report on Friday, February 23rd. Truist Financial dropped their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Teleflex presently has a consensus rating of “Moderate Buy” and an average price target of $257.29.

Teleflex Price Performance

Shares of NYSE:TFX opened at $201.94 on Friday. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $262.97. The business has a 50-day simple moving average of $208.59 and a two-hundred day simple moving average of $227.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 1.96 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The firm had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same quarter in the prior year, the firm earned $3.09 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that Teleflex Incorporated will post 13.75 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 14th. Teleflex’s payout ratio is currently 21.83%.

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.