Exchange Traded Concepts LLC Invests $61,000 in Teleflex Incorporated (NYSE:TFX)

Exchange Traded Concepts LLC acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 246 shares of the medical technology company’s stock, valued at approximately $61,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in shares of Teleflex by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after buying an additional 46 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Teleflex by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock valued at $584,000 after purchasing an additional 53 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of Teleflex by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock valued at $354,000 after purchasing an additional 58 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Teleflex by 0.3% in the 2nd quarter. SRS Capital Advisors Inc. now owns 19,527 shares of the medical technology company’s stock valued at $4,107,000 after purchasing an additional 62 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Teleflex by 6.2% during the first quarter. First Trust Direct Indexing L.P. now owns 1,254 shares of the medical technology company’s stock worth $284,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TFX. Royal Bank of Canada raised their price target on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial lifted their price objective on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens boosted their price target 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. Three investment 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, Teleflex has a consensus rating of “Moderate Buy” and an average target price of $268.86.

Teleflex Stock Performance

Shares of TFX opened at $237.82 on Thursday. The company has a market capitalization of $11.20 billion, a PE ratio of 38.17, a P/E/G ratio of 2.18 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. The company has a 50-day simple moving average of $241.19 and a 200-day simple moving average of $223.48. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is 21.83%.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.