Corbyn Investment Management Inc. MD Takes Position in Teleflex Incorporated (NYSE:TFX)

Corbyn Investment Management Inc. MD purchased a new stake in Teleflex Incorporated (NYSE:TFX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,899 shares of the medical technology company’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in Teleflex by 20,300.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,244 shares of the medical technology company’s stock valued at $560,000 after purchasing an additional 2,233 shares during the last quarter. Victory Capital Management Inc. lifted its position in Teleflex by 47.8% in the 4th quarter. Victory Capital Management Inc. now owns 21,865 shares of the medical technology company’s stock valued at $5,452,000 after purchasing an additional 7,070 shares during the last quarter. National Bank of Canada FI lifted its position in Teleflex by 9.3% in the 4th quarter. National Bank of Canada FI now owns 10,983 shares of the medical technology company’s stock valued at $2,751,000 after purchasing an additional 934 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in Teleflex in the 4th quarter valued at about $372,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Teleflex by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 405,203 shares of the medical technology company’s stock valued at $101,033,000 after purchasing an additional 12,150 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TFX has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada boosted their price target on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stephens boosted their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and an average target price of $265.57.

Teleflex Stock Performance

Teleflex stock opened at $244.53 on Friday. The firm’s 50 day simple moving average is $229.61 and its 200-day simple moving average is $219.51. The company has a market cap of $11.52 billion, a P/E ratio of 39.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.09. The business had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. As a group, equities research analysts predict that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Teleflex Company 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.