Cypress Capital Group Makes New Investment in Teleflex Incorporated (NYSE:TFX)

Cypress Capital Group bought a new stake in Teleflex Incorporated (NYSE:TFX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 901 shares of the medical technology company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cromwell Holdings LLC boosted its position in Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Teleflex by 190.6% during the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Teleflex during the third quarter worth $40,000. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex in the 2nd quarter worth about $42,000. Finally, GAMMA Investing LLC lifted its position in shares of Teleflex by 131.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TFX shares. Royal Bank of Canada cut their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Mizuho dropped their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Performance

TFX opened at $190.50 on Friday. The business has a 50 day moving average price of $227.12 and a two-hundred day moving average price of $223.02. 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 market capitalization of $8.85 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 1.98 and a beta of 1.18. Teleflex Incorporated has a 1-year low of $185.66 and a 1-year high of $257.85.

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

Teleflex Announces Dividend

The firm also recently disclosed 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio is presently 27.04%.

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.