Raymond James Financial Inc. Purchases New Shares in Teleflex Incorporated (NYSE:TFX)

Raymond James Financial Inc. acquired a new position in Teleflex Incorporated (NYSE:TFX) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 58,108 shares of the medical technology company’s stock, valued at approximately $10,342,000.

A number of other institutional investors have also recently bought and sold shares of the business. Avior Wealth Management LLC raised its position in shares of Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 101 shares in the last quarter. True Wealth Design LLC increased its stake in Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after acquiring an additional 166 shares during the period. IFP Advisors Inc increased its stake in Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after acquiring an additional 217 shares during the period. Banque Cantonale Vaudoise raised its holdings in Teleflex by 184.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company’s stock valued at $56,000 after acquiring an additional 146 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Teleflex by 38.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock valued at $61,000 after acquiring an additional 94 shares during the period. Institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TFX. Truist Financial decreased their price target on Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company decreased their target price on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $182.63.

Teleflex Price Performance

TFX stock opened at $139.41 on Friday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.73 and a beta of 1.21. 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 company has a 50 day simple moving average of $163.83 and a 200 day simple moving average of $195.11. Teleflex Incorporated has a 1 year low of $128.55 and a 1 year high of $249.91.

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

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 0.98%. Teleflex’s dividend payout ratio is presently 95.77%.

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.