Twin Capital Management Inc. Makes New $521,000 Investment in Teleflex Incorporated (NYSE:TFX)

Twin Capital Management Inc. acquired a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,927 shares of the medical technology company's stock, valued at approximately $521,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Teleflex in the 4th quarter valued at approximately $29,000. Avior Wealth Management LLC grew its position in Teleflex by 81.2% in the fourth 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 during the period. IFP Advisors Inc increased its stake in Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock worth $55,000 after acquiring an additional 217 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Teleflex by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after purchasing an additional 94 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Teleflex in the 4th quarter valued at $64,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFX has been the subject of a number of recent analyst reports. Citizens Jmp downgraded Teleflex from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Piper Sandler reissued a "neutral" rating and issued a $140.00 price target (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Royal Bank of Canada cut shares of Teleflex from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $220.00 to $155.00 in a research report on Friday, February 28th. Raymond James lowered Teleflex from an "outperform" rating to a "market perform" rating in a research report on Friday, February 28th. Finally, Truist Financial lowered their price target on Teleflex from $149.00 to $140.00 and set a "hold" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $181.50.

Teleflex Stock Up 0.6 %

Shares of Teleflex stock traded up $0.74 during trading hours on Friday, reaching $129.81. 642,249 shares of the company were exchanged, compared to its average volume of 616,652. The firm has a market cap of $6.02 billion, a PE ratio of 25.81, a PEG ratio of 1.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a 1 year low of $124.66 and a 1 year high of $249.91. The stock's fifty day moving average is $148.00 and its 200 day moving average is $181.09.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. The company 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%. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's dividend payout ratio (DPR) is presently 95.77%.

About Teleflex

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.