Ceredex Value Advisors LLC Grows Stake in Teleflex Incorporated (NYSE:TFX)

Ceredex Value Advisors LLC lifted its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 64.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 199,975 shares of the medical technology company's stock after acquiring an additional 78,500 shares during the period. Ceredex Value Advisors LLC owned 0.42% of Teleflex worth $49,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company's stock worth $1,255,408,000 after purchasing an additional 96,711 shares during the period. Janus Henderson Group PLC lifted its holdings in Teleflex by 12.0% in the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company's stock valued at $1,223,424,000 after acquiring an additional 581,312 shares during the last quarter. Cooke & Bieler LP lifted its holdings in Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company's stock valued at $191,989,000 after acquiring an additional 172,335 shares during the last quarter. TD Asset Management Inc grew its position in Teleflex by 12.0% in the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company's stock worth $95,928,000 after acquiring an additional 48,832 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Teleflex by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company's stock worth $89,526,000 after acquiring an additional 26,325 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Up 5.0 %

Shares of TFX stock traded up $10.15 during trading on Friday, reaching $211.21. The company's stock had a trading volume of 1,057,520 shares, compared to its average volume of 337,919. Teleflex Incorporated has a 1-year low of $190.49 and a 1-year high of $257.85. The stock's 50-day moving average price is $239.55 and its 200 day moving average price is $224.02. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 41.99, a P/E/G ratio of 1.82 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.44.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. The business had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.64 earnings per share. On average, research analysts anticipate that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex's dividend payout ratio is currently 27.04%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a report on Friday. Stephens upped their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Mizuho dropped their price target on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday. Truist Financial upped their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a "hold" rating in a report on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Friday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Teleflex currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.75.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company's stock.

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.