Exchange Traded Concepts LLC Makes New Investment in Teleflex Incorporated (NYSE:TFX)

Posted by on Oct 13th, 2023

Exchange Traded Concepts LLC bought a new position in shares of Teleflex Incorporated (NYSE:TFX – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 106 shares of the medical technology company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC raised its position in shares of Teleflex by 0.9% during the first quarter. Commonwealth Equity Services LLC now owns 4,688 shares of the medical technology company’s stock worth $1,187,000 after purchasing an additional 42 shares during the period. Column Capital Advisors LLC raised its position in shares of Teleflex by 9.0% during the first quarter. Column Capital Advisors LLC now owns 567 shares of the medical technology company’s stock worth $144,000 after purchasing an additional 47 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Teleflex by 3.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,411 shares of the medical technology company’s stock worth $284,000 after purchasing an additional 48 shares during the period. First Horizon Advisors Inc. raised its position in shares of Teleflex by 39.1% during the first quarter. First Horizon Advisors Inc. now owns 178 shares of the medical technology company’s stock worth $45,000 after purchasing an additional 50 shares during the period. Finally, Accretive Wealth Partners LLC raised its position in Teleflex by 1.7% in the 1st quarter. Accretive Wealth Partners LLC now owns 3,161 shares of the medical technology company’s stock valued at $801,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

Teleflex Stock Performance

TFX opened at $187.35 on Friday. The company has a market capitalization of $8.80 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.60 and a quick ratio of 1.47. The business has a fifty day simple moving average of $211.22 and a 200 day simple moving average of $236.19. 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 posted its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.20. Teleflex had a return on equity of 15.48% and a net margin of 12.71%. The company had revenue of $743.30 million during the quarter, compared to analysts’ expectations of $729.87 million. During the same quarter in the previous year, the firm earned $3.39 EPS. Teleflex’s revenue was up 5.5% on a year-over-year basis. Research analysts expect that Teleflex Incorporated will post 13.26 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 15th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.73%. Teleflex’s dividend payout ratio (DPR) is currently 17.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $315.00 target price on shares of Teleflex in a research report on Wednesday. JMP Securities decreased their price target on Teleflex from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Truist Financial decreased their price target on Teleflex from $264.00 to $255.00 and set a “hold” rating for the company in a research note on Monday, August 7th. Raymond James reduced their target price on Teleflex from $272.00 to $255.00 and set an “outperform” rating for the company in a research note on Monday, August 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $261.00 target price on shares of Teleflex in a research note on Wednesday, July 19th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $274.27.

Read Our Latest Stock Report on Teleflex

About Teleflex

(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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