Acadian Asset Management LLC Increases Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Acadian Asset Management LLC lifted its position in Teleflex Incorporated (NYSE:TFX) by 84.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 399 shares of the medical technology company’s stock after buying an additional 183 shares during the quarter. Acadian Asset Management LLC’s holdings in Teleflex were worth $83,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teleflex in the first quarter valued at approximately $2,467,000. Hsbc Holdings PLC raised its stake in Teleflex by 13.3% in the fourth quarter. Hsbc Holdings PLC now owns 83,474 shares of the medical technology company’s stock valued at $20,795,000 after purchasing an additional 9,807 shares in the last quarter. ProShare Advisors LLC raised its stake in Teleflex by 34.1% in the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock valued at $2,759,000 after purchasing an additional 3,105 shares in the last quarter. Wellington Management Group LLP raised its stake in Teleflex by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after purchasing an additional 52,533 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Teleflex by 214.7% in the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock valued at $1,503,000 after purchasing an additional 4,533 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TFX shares. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial increased their price target on shares of Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Stephens increased their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price target 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. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares in the company, valued at $1,313,159.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Teleflex Stock Down 1.3 %

Shares of Teleflex stock opened at $242.50 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 2.23 and a beta of 1.16. The company’s 50 day moving average price is $235.35 and its 200-day moving average price is $220.51.

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

Teleflex Announces Dividend

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