Diamond Hill Capital Management Inc. Acquires New Shares in Teleflex Incorporated (NYSE:TFX)

Diamond Hill Capital Management Inc. acquired a new position in Teleflex Incorporated (NYSE:TFX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 262,364 shares of the medical technology company's stock, valued at approximately $46,696,000. Diamond Hill Capital Management Inc. owned about 0.56% of Teleflex as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vontobel Holding Ltd. grew its stake in shares of Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after purchasing an additional 250 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in Teleflex during the third quarter valued at $4,800,000. JPMorgan Chase & Co. boosted its position in Teleflex by 14.3% during the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company's stock valued at $38,374,000 after acquiring an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Teleflex by 5.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock valued at $19,263,000 after acquiring an additional 5,322 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Teleflex during the fourth quarter valued at $729,000. Institutional investors own 95.62% of the company's stock.

Teleflex Stock Up 0.2 %

Shares of TFX traded up $0.22 on Tuesday, reaching $139.97. The company's stock had a trading volume of 796,823 shares, compared to its average volume of 495,889. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a twelve month low of $128.55 and a twelve month high of $249.91. The stock has a market capitalization of $6.49 billion, a PE ratio of 27.83, a PEG ratio of 1.73 and a beta of 1.21. The firm has a fifty day moving average of $166.18 and a 200-day moving average of $196.64.

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Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $813.24 million. Equities analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, March 7th. Teleflex's payout ratio is 95.77%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TFX shares. Truist Financial cut their price target on shares of Teleflex from $200.00 to $149.00 and set a "hold" rating on the stock in a research report on Monday, March 3rd. Morgan Stanley cut their price target on shares of Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. StockNews.com cut shares of Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Finally, Citizens Jmp lowered shares of Teleflex from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $182.63.

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.