Amalgamated Bank Raises Holdings in Teleflex Incorporated (NYSE:TFX)

Amalgamated Bank lifted its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 56.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,046 shares of the medical technology company’s stock after buying an additional 5,095 shares during the period. Amalgamated Bank’s holdings in Teleflex were worth $1,941,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. RBA Wealth Management LLC purchased a new position in shares of Teleflex during the 1st quarter worth approximately $2,956,000. Intact Investment Management Inc. purchased a new position in Teleflex in the 1st quarter valued at approximately $69,000. Praxis Investment Management Inc. purchased a new position in Teleflex in the 1st quarter valued at approximately $345,000. State of Alaska Department of Revenue increased its stake in Teleflex by 386.0% in the 1st quarter. State of Alaska Department of Revenue now owns 25,734 shares of the medical technology company’s stock valued at $3,556,000 after purchasing an additional 20,439 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Teleflex by 35.9% in the 1st quarter. QRG Capital Management Inc. now owns 2,959 shares of the medical technology company’s stock valued at $409,000 after purchasing an additional 781 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Price Performance

Shares of NYSE:TFX opened at $119.90 on Monday. Teleflex Incorporated has a one year low of $115.94 and a one year high of $249.91. The business’s fifty day moving average price is $123.14 and its two-hundred day moving average price is $145.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28. The stock has a market cap of $5.30 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business had revenue of $700.67 million for the quarter, compared to analysts’ expectations of $699.37 million. During the same quarter last year, the firm earned $3.21 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. On average, analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Tuesday, May 20th. Teleflex’s dividend payout ratio (DPR) is 42.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada dropped their price objective on Teleflex from $150.00 to $145.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Mizuho set a $155.00 price objective on Teleflex in a research note on Wednesday, April 16th. Truist Financial lowered their target price on Teleflex from $140.00 to $137.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, Morgan Stanley lowered their target price on Teleflex from $191.00 to $173.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $164.63.

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.