Teleflex Incorporated (NYSE:TFX) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System boosted its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,917 shares of the medical technology company’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Teleflex were worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Buffington Mohr McNeal raised its position in shares of Teleflex by 4.7% in the first quarter. Buffington Mohr McNeal now owns 4,480 shares of the medical technology company’s stock worth $1,013,000 after acquiring an additional 200 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Teleflex by 15.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 26,319 shares of the medical technology company’s stock worth $5,953,000 after acquiring an additional 3,597 shares during the period. Thompson Investment Management Inc. raised its position in shares of Teleflex by 8.5% in the first quarter. Thompson Investment Management Inc. now owns 2,540 shares of the medical technology company’s stock worth $574,000 after acquiring an additional 200 shares during the period. Riverview Trust Co acquired a new position in shares of Teleflex in the first quarter worth about $31,000. Finally, Steph & Co. raised its position in shares of Teleflex by 124.8% in the first quarter. Steph & Co. now owns 742 shares of the medical technology company’s stock worth $168,000 after acquiring an additional 412 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on TFX shares. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday, May 3rd. Truist Financial decreased their price objective on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Teleflex has a consensus rating of “Moderate Buy” and a consensus target price of $260.14.

Teleflex Stock Up 0.2 %

TFX opened at $211.69 on Thursday. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $262.97. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $207.94 and a 200 day moving average price of $225.31. The company has a market cap of $9.97 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping 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 the consensus estimate of $726.85 million. During the same quarter in the prior year, the firm earned $3.09 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that Teleflex Incorporated will post 13.75 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.36 annualized dividend and a yield of 0.64%. Teleflex’s dividend payout ratio is presently 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.