Townsquare Capital LLC Makes New Investment in Teleflex Incorporated (NYSE:TFX)

Townsquare Capital LLC bought a new stake in Teleflex Incorporated (NYSE:TFX) during the third quarter, Holdings Channel reports. The institutional investor bought 809 shares of the medical technology company’s stock, valued at approximately $200,000.

Several other hedge funds also recently modified their holdings of TFX. CWM LLC boosted its holdings in Teleflex by 22.9% during the 2nd quarter. CWM LLC now owns 1,317 shares of the medical technology company’s stock worth $277,000 after acquiring an additional 245 shares during the last quarter. SG Americas Securities LLC grew its position in Teleflex by 99.3% in the 2nd quarter. SG Americas Securities LLC now owns 13,791 shares of the medical technology company’s stock worth $2,901,000 after purchasing an additional 6,871 shares in the last quarter. Czech National Bank increased its stake in Teleflex by 8.6% in the 2nd quarter. Czech National Bank now owns 8,975 shares of the medical technology company’s stock valued at $1,888,000 after buying an additional 708 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Teleflex by 3.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,484 shares of the medical technology company’s stock worth $1,364,000 after buying an additional 246 shares in the last quarter. Finally, Hengehold Capital Management LLC purchased a new position in shares of Teleflex in the 2nd quarter worth approximately $216,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TFX shares. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Mizuho reduced their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $259.00.

Teleflex Price Performance

Shares of NYSE:TFX opened at $184.65 on Friday. The firm has a market capitalization of $8.58 billion, a PE ratio of 36.71, a P/E/G ratio of 1.92 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. The company has a 50-day moving average price of $214.17 and a two-hundred day moving average price of $221.42. Teleflex Incorporated has a twelve month low of $184.23 and a twelve month high of $257.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same period in the prior year, the company posted $3.64 EPS. Teleflex’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.74%. Teleflex’s payout ratio is 27.04%.

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.