Magnetar Financial LLC Purchases Shares of 65,532 Teleflex Incorporated (NYSE:TFX)

Magnetar Financial LLC acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 65,532 shares of the medical technology company’s stock, valued at approximately $13,783,000. Magnetar Financial LLC owned approximately 0.14% of Teleflex at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Teleflex during the first quarter valued at $31,000. Pineridge Advisors LLC purchased a new stake in shares of Teleflex during the 4th quarter valued at about $35,000. Canada Pension Plan Investment Board bought a new position in shares of Teleflex in the 2nd quarter valued at about $42,000. Versant Capital Management Inc grew its position in Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 207 shares in the last quarter. Finally, Blue Trust Inc. increased its stake 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 during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Teleflex Trading Down 1.3 %

TFX stock opened at $242.50 on Monday. The company has a market capitalization of $11.42 billion, a PE ratio of 38.92, a P/E/G ratio of 2.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85. The firm’s 50-day moving average is $235.35 and its 200 day moving average is $220.48.

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

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. Teleflex’s payout ratio is currently 21.83%.

Analyst Ratings Changes

Several research firms have recently issued reports on TFX. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Stephens lifted 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. Royal Bank of Canada boosted their price objective on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Truist Financial raised their target price on shares of Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $265.57.

Insider Buying and Selling

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated 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 owns 5,496 shares in the company, valued at approximately $1,313,159.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.43% of the stock is owned by insiders.

About Teleflex

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.