Simplify Asset Management Inc. Buys Shares of 19,408 Teleflex Incorporated (NYSE:TFX)

Simplify Asset Management Inc. bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,408 shares of the medical technology company's stock, valued at approximately $4,800,000.

Several other institutional investors also recently modified their holdings of TFX. Cromwell Holdings LLC grew its holdings in Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 49 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Teleflex in the third quarter worth $40,000. Canada Pension Plan Investment Board purchased a new stake in Teleflex during the second quarter valued at about $42,000. GAMMA Investing LLC raised its position in Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company's stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company's stock valued at $44,000 after purchasing an additional 207 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Teleflex Stock Performance

Shares of TFX stock traded up $1.71 during mid-day trading on Friday, reaching $192.15. 515,458 shares of the company's stock traded hands, compared to its average volume of 378,038. Teleflex Incorporated has a 12 month low of $189.95 and a 12 month high of $257.85. The firm has a 50 day moving average price of $231.39 and a two-hundred day moving average price of $223.30. 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 firm has a market capitalization of $8.92 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18.

Teleflex (NYSE:TFX - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.64 EPS. On average, research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex's dividend payout ratio is 27.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TFX shares. StockNews.com raised Teleflex from a "hold" rating to a "buy" rating in a research note on Tuesday. Royal Bank of Canada reduced their price objective on Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Truist Financial reissued a "hold" rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a research note on Friday, November 1st. Finally, Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Teleflex presently has a consensus rating of "Moderate Buy" and an average price target of $259.25.

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.