Tidal Investments LLC Buys 1,163 Shares of Teleflex Incorporated (NYSE:TFX)

Tidal Investments LLC lifted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 14.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,177 shares of the medical technology company’s stock after acquiring an additional 1,163 shares during the quarter. Tidal Investments LLC’s holdings in Teleflex were worth $1,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TFX. Norges Bank bought a new position in shares of Teleflex during the fourth quarter worth about $100,328,000. Invesco Ltd. raised its position in shares of Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock worth $190,188,000 after acquiring an additional 347,003 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Teleflex during the fourth quarter worth about $46,696,000. T. Rowe Price Investment Management Inc. raised its position in shares of Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock worth $1,098,693,000 after acquiring an additional 261,279 shares during the last quarter. Finally, Magnetar Financial LLC grew its stake in Teleflex by 105.2% during the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock worth $74,990,000 after purchasing an additional 215,961 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler reiterated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Mizuho set a $155.00 target price on Teleflex in a report on Wednesday, April 16th. Truist Financial lowered their target price on Teleflex from $140.00 to $137.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company lowered their target price on Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Teleflex has an average rating of “Hold” and a consensus price target of $164.63.

Teleflex Trading Up 0.0%

NYSE TFX opened at $120.95 on Friday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.73 and a beta of 1.17. Teleflex Incorporated has a 52 week low of $119.08 and a 52 week high of $249.91. The business has a 50 day moving average price of $131.43 and a 200-day moving average price of $160.11. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.88 by $0.03. The firm had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.21 earnings per share. As a group, equities analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.12%. Teleflex’s dividend payout ratio is 42.90%.

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.