Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,001 Shares of Teleflex Incorporated (NYSE:TFX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Teleflex Incorporated (NYSE:TFX) by 25.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,873 shares of the medical technology company’s stock after purchasing an additional 1,001 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Teleflex were worth $1,205,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Teleflex in the first quarter valued at about $2,467,000. ProShare Advisors LLC boosted 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 buying an additional 3,105 shares in the last quarter. Tidal Investments LLC boosted 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 buying an additional 4,533 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Teleflex by 2.7% in the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock valued at $49,199,000 after buying an additional 6,076 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after buying an additional 2,570 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Trading Up 0.1 %

Shares of TFX stock opened at $236.71 on Wednesday. The company has a market cap of $11.15 billion, a P/E ratio of 42.50, a PEG ratio of 2.18 and a beta of 1.16. The stock has a 50 day simple moving average of $241.09 and a two-hundred day simple moving average of $223.38. 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 fifty-two week low of $177.63 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last issued its 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. The business had revenue of $749.70 million during 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 firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 earnings per share. Research analysts forecast that Teleflex Incorporated will post 13.97 earnings per share for the current 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 issued a dividend of $0.34 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. Teleflex’s dividend payout ratio is 24.42%.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The stock was 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 owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial raised their price objective on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Royal Bank of Canada lifted 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. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens lifted their price target on Teleflex from $275.00 to $290.00 and gave the company 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $268.86.

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.