Teleflex Incorporated (NYSE:TFX) Shares Acquired by Federated Hermes Inc.

Posted by on Mar 10th, 2023

Federated Hermes Inc. increased its position in Teleflex Incorporated (NYSE:TFX – Get Rating) by 29.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,028 shares of the medical technology company’s stock after purchasing an additional 3,409 shares during the period. Federated Hermes Inc.’s holdings in Teleflex were worth $3,028,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. First Manhattan Co. boosted its stake in Teleflex by 20,440.4% in the third quarter. First Manhattan Co. now owns 111,945 shares of the medical technology company’s stock valued at $22,552,000 after acquiring an additional 111,400 shares during the period. First Trust Advisors LP boosted its stake in Teleflex by 64.7% in the third quarter. First Trust Advisors LP now owns 80,962 shares of the medical technology company’s stock valued at $16,310,000 after acquiring an additional 31,794 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Teleflex by 6.1% in the third quarter. Frontier Capital Management Co. LLC now owns 209,248 shares of the medical technology company’s stock valued at $42,155,000 after acquiring an additional 12,080 shares during the period. Bank of New York Mellon Corp boosted its stake in Teleflex by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 444,832 shares of the medical technology company’s stock valued at $89,614,000 after acquiring an additional 19,325 shares during the period. Finally, Blueshift Asset Management LLC boosted its stake in Teleflex by 13.9% in the third quarter. Blueshift Asset Management LLC now owns 3,449 shares of the medical technology company’s stock valued at $695,000 after acquiring an additional 421 shares during the period. 93.82% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

Shares of NYSE:TFX opened at $228.85 on Friday. Teleflex Incorporated has a 12 month low of $182.65 and a 12 month high of $356.72. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 2.38 and a beta of 0.98. The stock’s 50 day moving average price is $243.90 and its 200 day moving average price is $229.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.43 and a quick ratio of 1.43.

Teleflex (NYSE:TFX – Get Rating) last announced its earnings results on Thursday, February 23rd. The medical technology company reported $3.52 EPS for the quarter, topping the consensus estimate of $3.44 by $0.08. Teleflex had a return on equity of 15.87% and a net margin of 13.01%. The firm had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $760.29 million. During the same quarter in the previous year, the company earned $3.60 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Teleflex Incorporated will post 13.31 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.36 annualized dividend and a yield of 0.59%. Teleflex’s dividend payout ratio (DPR) is 17.71%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stephens lifted their target price on Teleflex from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, December 28th. Morgan Stanley lifted their target price on Teleflex from $236.00 to $280.00 and gave the company an “equal weight” rating in a research note on Friday, January 6th. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 24th. Raymond James lifted their price target on Teleflex from $231.00 to $259.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $291.00 price target on shares of Teleflex in a report on Friday, February 24th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $271.69.

Teleflex Profile

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Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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