Teleflex Incorporated (NYSE:TFX) Shares Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC grew its stake in Teleflex Incorporated (NYSE:TFX) by 70.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,665 shares of the medical technology company’s stock after purchasing an additional 687 shares during the period. Cornerstone Investment Partners LLC’s holdings in Teleflex were worth $296,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TFX. International Assets Investment Management LLC boosted its holdings in shares of Teleflex by 29,127.3% in the 3rd quarter. International Assets Investment Management LLC now owns 3,215 shares of the medical technology company’s stock valued at $795,000 after buying an additional 3,204 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Teleflex by 72.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,177 shares of the medical technology company’s stock valued at $786,000 after buying an additional 1,337 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Teleflex by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,465 shares of the medical technology company’s stock valued at $1,351,000 after buying an additional 370 shares in the last quarter. abrdn plc boosted its holdings in shares of Teleflex by 41.1% in the 3rd quarter. abrdn plc now owns 14,832 shares of the medical technology company’s stock valued at $3,649,000 after buying an additional 4,322 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Teleflex by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company’s stock valued at $3,792,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Up 1.9 %

TFX stock opened at $135.31 on Tuesday. Teleflex Incorporated has a one year low of $128.55 and a one year high of $249.90. The stock has a market capitalization of $6.28 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company has a fifty day moving average of $174.58 and a 200-day moving average of $203.93.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, February 27th. The medical technology company reported $3.89 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 analysts’ expectations of $813.24 million. As a group, analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. Teleflex’s dividend payout ratio is presently 95.77%.

Analyst Ratings Changes

Several research analysts have recently issued reports on TFX shares. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $220.00 to $155.00 in a report on Friday. Piper Sandler reiterated a “neutral” rating and set a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Friday. 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 note on Monday. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Teleflex has an average rating of “Hold” and a consensus target price of $188.33.

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.