Arizona State Retirement System Purchases 361 Shares of Teleflex Incorporated (NYSE:TFX)

Posted by on Jul 19th, 2023

Arizona State Retirement System raised its position in shares of Teleflex Incorporated (NYSE:TFX – Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,637 shares of the medical technology company’s stock after acquiring an additional 361 shares during the period. Arizona State Retirement System’s holdings in Teleflex were worth $3,454,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of Teleflex by 27.9% in the fourth quarter. Nordea Investment Management AB now owns 8,832 shares of the medical technology company’s stock valued at $2,201,000 after buying an additional 1,927 shares during the period. Qtron Investments LLC bought a new stake in shares of Teleflex in the fourth quarter valued at about $295,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Teleflex by 4.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 26,611 shares of the medical technology company’s stock valued at $6,643,000 after buying an additional 1,125 shares during the period. Deutsche Bank AG lifted its stake in shares of Teleflex by 14.3% in the fourth quarter. Deutsche Bank AG now owns 137,343 shares of the medical technology company’s stock valued at $34,285,000 after buying an additional 17,153 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Teleflex by 22.3% in the fourth quarter. First Trust Advisors LP now owns 98,979 shares of the medical technology company’s stock valued at $24,708,000 after buying an additional 18,017 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Stuart A. Randle sold 3,021 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $245.71, for a total transaction of $742,289.91. Following the sale, the director now directly owns 4,847 shares of the company’s stock, valued at $1,190,956.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Monday. JMP Securities reissued a “market outperform” rating and issued a $330.00 price target on shares of Teleflex in a research report on Thursday, March 30th. Wolfe Research lowered shares of Teleflex from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 26th. Mizuho increased their price target on shares of Teleflex from $220.00 to $250.00 in a research report on Tuesday, April 18th. Finally, Truist Financial increased their price target on shares of Teleflex from $250.00 to $264.00 and gave the stock a “hold” rating in a research report on Monday, April 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $271.17.

Teleflex Stock Performance

NYSE TFX opened at $251.61 on Wednesday. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.63 and a beta of 1.00. The company has a 50 day moving average of $241.32 and a 200-day moving average of $246.11. The company has a current ratio of 2.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.38. Teleflex Incorporated has a 1-year low of $182.65 and a 1-year high of $276.43.

Teleflex (NYSE:TFX – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The medical technology company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.97 by $0.12. Teleflex had a net margin of 12.68% and a return on equity of 15.80%. The business had revenue of $710.90 million for the quarter, compared to analysts’ expectations of $687.11 million. During the same period in the prior year, the firm earned $2.88 earnings per share. Teleflex’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that Teleflex Incorporated will post 13.29 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.36 annualized dividend and a dividend yield of 0.54%. Teleflex’s dividend payout ratio (DPR) is currently 17.73%.

Teleflex Company Profile

(Free Report)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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