Pathstone Holdings LLC Grows Stock Position in Teleflex Incorporated (NYSE:TFX)

Pathstone Holdings LLC increased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 34.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,700 shares of the medical technology company’s stock after buying an additional 2,245 shares during the quarter. Pathstone Holdings LLC’s holdings in Teleflex were worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC raised its holdings in shares of Teleflex by 214.7% in the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Teleflex by 2.7% in the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after purchasing an additional 6,076 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Teleflex by 876.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock worth $4,538,000 after purchasing an additional 19,367 shares during the period. Simplify Asset Management Inc. purchased a new position in shares of Teleflex in the 3rd quarter worth about $4,800,000. Finally, Swedbank AB purchased a new position in shares of Teleflex in the 1st quarter worth about $679,000. 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 analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Stephens raised their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Truist Financial reiterated a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Price Performance

Shares of NYSE TFX opened at $191.02 on Wednesday. Teleflex Incorporated has a fifty-two week low of $185.66 and a fifty-two week high of $257.85. The business has a 50 day moving average price of $222.95 and a two-hundred day moving average price of $222.87. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.87 billion, a PE ratio of 37.98, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The firm had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Teleflex’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.64 EPS. Sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. Teleflex’s payout ratio is 27.04%.

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.