Daiwa Securities Group Inc. Boosts Stock Position in Teleflex Incorporated (NYSE:TFX)

Daiwa Securities Group Inc. increased its stake in shares of Teleflex Incorporated (NYSE:TFX) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,897 shares of the medical technology company’s stock after purchasing an additional 201 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Teleflex were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its position in Teleflex by 6.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock worth $964,000 after purchasing an additional 314 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Teleflex by 243.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock valued at $5,666,000 after buying an additional 16,110 shares during the period. Royal London Asset Management Ltd. grew its holdings in Teleflex by 4.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 17,753 shares of the medical technology company’s stock valued at $3,487,000 after buying an additional 737 shares during the period. Raymond James & Associates grew its holdings in Teleflex by 10.5% in the 4th quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock valued at $31,473,000 after buying an additional 11,943 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Teleflex by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 2,964 shares of the medical technology company’s stock valued at $738,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Insider Buying and Selling

In related news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now directly 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 this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial lowered their price target on Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Royal Bank of Canada lowered 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. JMP Securities restated a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Finally, StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Teleflex Stock Up 0.3 %

Shares of NYSE:TFX opened at $207.27 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $276.43. The stock has a market capitalization of $9.76 billion, a P/E ratio of 27.53, a PEG ratio of 1.98 and a beta of 1.11. The stock has a 50-day simple moving average of $224.58 and a 200-day simple moving average of $225.66.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.26 by $0.12. The firm had revenue of $773.90 million for the quarter, compared to analyst estimates of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. Teleflex’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.52 EPS. Equities analysts forecast that Teleflex Incorporated will post 13.73 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex’s dividend payout ratio (DPR) is presently 18.06%.

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.