Edgestream Partners L.P. Makes New $2.45 Million Investment in Teleflex Incorporated (NYSE:TFX)

Edgestream Partners L.P. acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 13,746 shares of the medical technology company’s stock, valued at approximately $2,447,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in Teleflex by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after purchasing an additional 147,147 shares in the last quarter. State Street Corp grew its position in Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after purchasing an additional 21,291 shares in the last quarter. Geode Capital Management LLC grew its position in Teleflex by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock worth $278,676,000 after purchasing an additional 5,746 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Teleflex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock worth $105,749,000 after purchasing an additional 1,884 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Teleflex by 31.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 407,442 shares of the medical technology company’s stock worth $100,768,000 after purchasing an additional 96,958 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFX has been the topic of several research analyst reports. Citizens Jmp cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Truist Financial lowered their price target on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $220.00 to $155.00 in a report on Friday, February 28th. Finally, Piper Sandler restated a “neutral” rating and set a $140.00 price target (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Stock Up 2.9 %

TFX stock opened at $140.24 on Monday. 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 Incorporated has a 1 year low of $128.55 and a 1 year high of $249.90. The company has a fifty day simple moving average of $171.13 and a 200 day simple moving average of $201.04. The firm has a market cap of $6.50 billion, a PE ratio of 27.88, a PEG ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. Sell-side analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, March 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s payout ratio is presently 95.77%.

Teleflex Company 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.