HighTower Advisors LLC Boosts Stock Holdings in Teleflex Incorporated (NYSE:TFX)

HighTower Advisors LLC lifted its holdings in Teleflex Incorporated (NYSE:TFX) by 24.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,969 shares of the medical technology company’s stock after acquiring an additional 971 shares during the quarter. HighTower Advisors LLC’s holdings in Teleflex were worth $884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Teleflex by 16,600.0% in the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after buying an additional 166 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Teleflex by 81.2% in the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 125 shares in the last quarter. IFP Advisors Inc raised its position in shares of Teleflex by 238.5% in 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 in the last quarter. Exchange Traded Concepts LLC lifted its stake 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 worth $61,000 after purchasing an additional 94 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Teleflex during the fourth quarter valued at about $64,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Price Performance

Shares of TFX opened at $139.34 on Friday. 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’s fifty day moving average price is $160.07 and its 200-day moving average price is $191.50. Teleflex Incorporated has a 1-year low of $128.55 and a 1-year high of $249.91. The firm has a market capitalization of $6.46 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.03. The business had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, equities research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

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

Wall Street Analysts Forecast Growth

TFX has been the subject of several analyst reports. Truist Financial decreased their price target on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Piper Sandler reissued a “neutral” rating and set a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Bank of America downgraded Teleflex from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $235.00 to $140.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teleflex currently has an average rating of “Hold” and an average target price of $182.63.

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.