Armistice Capital LLC Purchases Shares of 15,000 Teleflex Incorporated (NYSE:TFX)

Armistice Capital LLC acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,000 shares of the medical technology company’s stock, valued at approximately $3,155,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TFX. US Bancorp DE grew its stake in shares of Teleflex by 69.7% in the fourth quarter. US Bancorp DE now owns 11,884 shares of the medical technology company’s stock worth $2,963,000 after purchasing an additional 4,881 shares in the last quarter. Advisory Services Network LLC bought a new position in Teleflex in the 4th quarter valued at about $176,000. Nomura Asset Management Co. Ltd. increased its stake in Teleflex by 9.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 12,397 shares of the medical technology company’s stock valued at $3,091,000 after buying an additional 1,055 shares during the period. Hsbc Holdings PLC raised its position in shares of Teleflex by 13.3% during the 4th quarter. Hsbc Holdings PLC now owns 83,474 shares of the medical technology company’s stock worth $20,795,000 after buying an additional 9,807 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Teleflex by 38.6% in the 4th quarter. Allianz Asset Management GmbH now owns 8,503 shares of the medical technology company’s stock worth $2,120,000 after acquiring an additional 2,370 shares during the period. 95.62% of the stock is owned by institutional investors.

Insider Buying and Selling at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

Teleflex Price Performance

TFX stock opened at $244.87 on Friday. Teleflex Incorporated has a one year low of $177.63 and a one year high of $257.85. The firm has a 50-day moving average of $236.48 and a two-hundred day moving average of $220.91. The firm has a market capitalization of $11.54 billion, a PE ratio of 39.30, a P/E/G ratio of 2.23 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same quarter last year, the business posted $3.41 EPS. The company’s revenue was up .9% on a year-over-year basis. On average, analysts forecast that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a $0.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.56%. Teleflex’s payout ratio is 21.83%.

Analyst Ratings Changes

A number of research analysts recently commented on TFX shares. Royal Bank of Canada raised their price objective on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Stephens raised their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and upped their price target for the company from $205.00 to $245.00 in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $265.57.

About Teleflex

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.