Teleflex Incorporated (NYSE:TFX) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,142 shares of the medical technology company’s stock after acquiring an additional 293 shares during the quarter. Fifth Third Bancorp’s holdings in Teleflex were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its holdings in Teleflex by 0.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,320 shares of the medical technology company’s stock worth $3,614,000 after buying an additional 74 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. True Wealth Design LLC boosted its holdings in Teleflex by 62.3% during the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock worth $48,000 after buying an additional 104 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Teleflex by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 1,535 shares of the medical technology company’s stock worth $273,000 after buying an additional 105 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Teleflex by 5.8% during the fourth quarter. QRG Capital Management Inc. now owns 2,178 shares of the medical technology company’s stock worth $388,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

TFX has been the subject of a number of research reports. Bank of America cut shares of Teleflex from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on shares of Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Raymond James Financial cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Royal Bank Of Canada reduced their target price on shares of Teleflex from $150.00 to $145.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Finally, Mizuho set a $155.00 price objective on shares of Teleflex in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $164.63.

Teleflex Stock Down 2.9%

Shares of Teleflex stock opened at $117.55 on Wednesday. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 37.08, a P/E/G ratio of 1.90 and a beta of 1.10. The stock has a 50-day simple moving average of $126.25 and a 200-day simple moving average of $151.38. Teleflex Incorporated has a 52-week low of $117.24 and a 52-week high of $249.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. The firm had revenue of $700.67 million during the quarter, compared to analysts’ expectations of $699.37 million. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 earnings per share. On average, equities research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.16%. Teleflex’s dividend payout ratio (DPR) 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.