Cypress Capital Group Acquires New Holdings in Teleflex Incorporated (NYSE:TFX)

Cypress Capital Group acquired a new position in Teleflex Incorporated (NYSE:TFX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 901 shares of the medical technology company’s stock, valued at approximately $223,000.

A number of other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its position in Teleflex by 26.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,313 shares of the medical technology company’s stock valued at $523,000 after purchasing an additional 482 shares during the period. Toronto Dominion Bank grew its stake in Teleflex by 2.1% during the first quarter. Toronto Dominion Bank now owns 27,172 shares of the medical technology company’s stock valued at $6,145,000 after acquiring an additional 553 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Teleflex during the first quarter valued at approximately $661,000. 1832 Asset Management L.P. lifted its holdings in shares of Teleflex by 10.2% in the 1st quarter. 1832 Asset Management L.P. now owns 43,418 shares of the medical technology company’s stock worth $9,820,000 after acquiring an additional 4,003 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Teleflex by 12.0% in 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 buying an additional 581,312 shares during the period. Institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TFX shares. Royal Bank of Canada cut their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Finally, Truist Financial reiterated a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Up 1.6 %

Shares of TFX stock opened at $190.50 on Friday. Teleflex Incorporated has a 1-year low of $185.66 and a 1-year high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The stock has a 50 day simple moving average of $227.12 and a 200-day simple moving average of $223.02. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 1.98 and a beta of 1.18.

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

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio (DPR) is 27.04%.

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.