Hilton Capital Management LLC Boosts Position in Teleflex Incorporated (NYSE:TFX)

Hilton Capital Management LLC raised its stake in Teleflex Incorporated (NYSE:TFX) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,818 shares of the medical technology company’s stock after purchasing an additional 1,116 shares during the period. Hilton Capital Management LLC’s holdings in Teleflex were worth $1,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in shares of Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after acquiring an additional 581,312 shares during the last quarter. Point72 Asset Management L.P. grew its position in Teleflex by 564.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock worth $65,304,000 after purchasing an additional 263,743 shares during the last quarter. Cooke & Bieler LP increased its stake in Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Teleflex in the second quarter valued at about $25,550,000. Finally, National Bank of Canada FI boosted its stake in shares of Teleflex by 1,008.2% during the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock worth $24,388,000 after buying an additional 104,935 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Trading Down 2.9 %

Teleflex stock opened at $187.47 on Thursday. The stock has a 50-day moving average price of $228.26 and a 200 day moving average price of $223.27. Teleflex Incorporated has a 52 week low of $185.66 and a 52 week high of $257.85. The stock has a market cap of $8.71 billion, a PE ratio of 37.27, a P/E/G ratio of 1.98 and a beta of 1.18. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.64 earnings per share. Equities research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Analysts Set New Price Targets

Several research firms have commented on TFX. Royal Bank of Canada reduced their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial reissued a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Teleflex currently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

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.