Geode Capital Management LLC Buys 5,746 Shares of Teleflex Incorporated (NYSE:TFX)

Geode Capital Management LLC grew its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,130,560 shares of the medical technology company's stock after acquiring an additional 5,746 shares during the quarter. Geode Capital Management LLC owned 2.43% of Teleflex worth $278,676,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Point72 Asset Management L.P. increased its position in shares of Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company's stock valued at $65,304,000 after acquiring an additional 263,743 shares in the last quarter. Cooke & Bieler LP increased its holdings in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company's stock worth $191,989,000 after purchasing an additional 172,335 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company's stock worth $1,329,704,000 after purchasing an additional 147,147 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Teleflex in the second quarter worth $25,550,000. Finally, FMR LLC lifted its holdings in shares of Teleflex by 70.1% during the third quarter. FMR LLC now owns 269,490 shares of the medical technology company's stock valued at $66,650,000 after purchasing an additional 111,086 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFX has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, November 1st. StockNews.com raised shares of Teleflex from a "hold" rating to a "buy" rating in a report on Thursday, November 28th. Mizuho dropped their target price on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Truist Financial reaffirmed a "hold" rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $259.00.

Teleflex Stock Performance

Teleflex stock traded down $3.17 during midday trading on Friday, hitting $180.14. The stock had a trading volume of 327,161 shares, compared to its average volume of 430,399. Teleflex Incorporated has a 52-week low of $179.82 and a 52-week high of $257.85. The company has a market capitalization of $8.37 billion, a PE ratio of 35.81, a P/E/G ratio of 1.84 and a beta of 1.16. The firm's fifty day moving average is $208.28 and its two-hundred day moving average is $220.73. 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 (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Teleflex's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.64 EPS. On average, research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, November 15th. Teleflex's dividend payout ratio (DPR) is currently 27.04%.

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.