Panagora Asset Management Inc. Boosts Stock Position in Teleflex Incorporated (NYSE:TFX)

Panagora Asset Management Inc. increased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 28.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,175 shares of the medical technology company’s stock after acquiring an additional 935 shares during the period. Panagora Asset Management Inc.’s holdings in Teleflex were worth $1,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TFX. Cooke & Bieler LP grew its position in shares of Teleflex by 5.7% in the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock valued at $183,256,000 after purchasing an additional 39,308 shares during the period. Invesco Ltd. increased its stake in Teleflex by 23.3% during the 3rd quarter. Invesco Ltd. now owns 621,445 shares of the medical technology company’s stock worth $122,058,000 after buying an additional 117,401 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Teleflex by 4.3% during the third quarter. Northern Trust Corp now owns 457,170 shares of the medical technology company’s stock valued at $89,793,000 after acquiring an additional 19,001 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Teleflex by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock valued at $107,949,000 after acquiring an additional 35,847 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Teleflex by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 405,203 shares of the medical technology company’s stock worth $101,033,000 after acquiring an additional 12,150 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Insider Buying and Selling at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the transaction, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

TFX has been the topic of a number of research reports. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Truist Financial decreased their price target on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a report on Friday, February 23rd. Finally, Royal Bank of Canada cut their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

Teleflex Stock Up 0.0 %

TFX stock opened at $213.09 on Thursday. The firm has a market cap of $10.04 billion, a PE ratio of 34.20, a PEG ratio of 2.06 and a beta of 1.13. Teleflex Incorporated has a one year low of $177.63 and a one year high of $262.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. The firm’s 50 day moving average price is $213.31 and its 200-day moving average price is $228.20.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. The company had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.09 earnings per share. On average, equities research analysts anticipate that Teleflex Incorporated will post 13.75 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, May 14th. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

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.