Seven Eight Capital LP Takes $245,000 Position in Teleflex Incorporated (NYSE:TFX)

Seven Eight Capital LP acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,167 shares of the medical technology company’s stock, valued at approximately $245,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its position in shares of Teleflex by 4.9% in the 2nd quarter. Hsbc Holdings PLC now owns 127,077 shares of the medical technology company’s stock worth $26,684,000 after buying an additional 5,943 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Teleflex by 19.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,591 shares of the medical technology company’s stock worth $1,374,000 after acquiring an additional 1,063 shares during the period. Argent Trust Co raised its stake in Teleflex by 11.4% during the second quarter. Argent Trust Co now owns 1,000 shares of the medical technology company’s stock worth $210,000 after acquiring an additional 102 shares during the period. Sofinnova Investments Inc. lifted its holdings in Teleflex by 12.4% in the second quarter. Sofinnova Investments Inc. now owns 13,649 shares of the medical technology company’s stock worth $2,871,000 after acquiring an additional 1,507 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Teleflex in the second quarter valued at approximately $350,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

TFX has been the topic of several recent research reports. Truist Financial raised their price target on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada raised their target price on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Stephens upped their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.43% of the company’s stock.

Teleflex Stock Performance

TFX stock opened at $244.87 on Tuesday. The company has a 50-day simple moving average of $235.85 and a 200 day simple moving average of $220.59. The company has a market capitalization of $11.53 billion, a P/E ratio of 39.30, a PEG ratio of 2.23 and a beta of 1.16. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same period in the prior year, the business posted $3.41 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts predict that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

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

Teleflex Company 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.