Distillate Capital Partners LLC Makes New $15.05 Million Investment in Teleflex Incorporated (NYSE:TFX)

Distillate Capital Partners LLC purchased a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 84,536 shares of the medical technology company's stock, valued at approximately $15,046,000. Distillate Capital Partners LLC owned 0.18% of Teleflex as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Teleflex during the 4th quarter worth about $29,000. Avior Wealth Management LLC raised its holdings 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 purchasing an additional 125 shares during the period. IFP Advisors Inc boosted its position in shares of 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 purchasing an additional 217 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after buying an additional 94 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Teleflex in the 4th quarter valued at $64,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Up 1.1 %

TFX traded up $1.36 during trading on Thursday, reaching $129.57. 476,216 shares of the stock were exchanged, compared to its average volume of 618,831. The stock has a market cap of $6.01 billion, a P/E ratio of 25.76, a price-to-earnings-growth 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. The stock's 50 day moving average price is $145.36 and its two-hundred day moving average price is $179.57. Teleflex Incorporated has a twelve month low of $124.66 and a twelve month high of $249.91.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $813.24 million. Equities analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

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

Wall Street Analyst Weigh In

TFX has been the subject of several research analyst reports. Bank of America lowered Teleflex from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. Truist Financial reduced their price objective on Teleflex from $149.00 to $140.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company dropped their target price on Teleflex from $214.00 to $146.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Morgan Stanley reduced their price target on Teleflex from $275.00 to $191.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. One 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. Based on data from MarketBeat, Teleflex presently has an average rating of "Hold" and a consensus target price of $169.63.

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.