Teleflex Incorporated (NYSE:TFX) Shares Purchased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC raised its position in Teleflex Incorporated (NYSE:TFX) by 70.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,665 shares of the medical technology company’s stock after purchasing an additional 687 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Teleflex were worth $296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its holdings in Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Teleflex in the 3rd quarter valued at about $40,000. True Wealth Design LLC boosted its holdings in Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Teleflex in the 3rd quarter valued at about $54,000. Finally, IFP Advisors Inc boosted its holdings in Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after purchasing an additional 217 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

Shares of TFX opened at $135.31 on Tuesday. Teleflex Incorporated has a fifty-two week low of $128.55 and a fifty-two week high of $249.90. The firm’s 50 day moving average price is $174.58 and its 200 day moving average price is $203.93. The company has a market cap of $6.28 billion, a P/E ratio of 26.90, a PEG ratio of 1.73 and a beta of 1.16. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping 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 firm had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. On average, research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. Teleflex’s dividend payout ratio is presently 95.77%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TFX. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday. Finally, Truist Financial decreased their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $188.33.

About Teleflex

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.