Arrowstreet Capital Limited Partnership Buys 73,396 Shares of Teleflex Incorporated $TFX

Arrowstreet Capital Limited Partnership raised its stake in shares of Teleflex Incorporated (NYSE:TFX) by 33.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 295,137 shares of the medical technology company’s stock after purchasing an additional 73,396 shares during the period. Arrowstreet Capital Limited Partnership owned 0.67% of Teleflex worth $34,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TFX. Cetera Investment Advisers bought a new position in Teleflex during the first quarter valued at approximately $206,000. LPL Financial LLC raised its holdings in shares of Teleflex by 15.6% during the 1st quarter. LPL Financial LLC now owns 40,365 shares of the medical technology company’s stock worth $5,578,000 after acquiring an additional 5,434 shares in the last quarter. US Bancorp DE raised its holdings in shares of Teleflex by 8.0% during the 1st quarter. US Bancorp DE now owns 6,440 shares of the medical technology company’s stock worth $890,000 after acquiring an additional 475 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Teleflex by 12.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the medical technology company’s stock valued at $2,460,000 after acquiring an additional 1,952 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in shares of Teleflex in the first quarter valued at $223,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of Teleflex stock opened at $120.54 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.57 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average is $119.98 and its two-hundred day moving average is $120.77. Teleflex Incorporated has a 52 week low of $102.58 and a 52 week high of $188.87. The company has a market capitalization of $5.33 billion, a PE ratio of -16.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.95.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, November 6th. The medical technology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.29. The business had revenue of $892.90 million during the quarter, compared to the consensus estimate of $892.79 million. Teleflex had a positive return on equity of 15.64% and a negative net margin of 10.28%.The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the company earned $3.49 earnings per share. Teleflex has set its FY 2025 guidance at 14.000-14.200 EPS. As a group, analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.1%. Teleflex’s dividend payout ratio (DPR) is -18.50%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Teleflex in a research note on Monday. Truist Financial reduced their target price on shares of Teleflex from $128.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, November 10th. Royal Bank Of Canada decreased their target price on shares of Teleflex from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Wells Fargo & Company lowered their price target on shares of Teleflex from $131.00 to $114.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Zacks Research cut Teleflex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Teleflex has an average rating of “Reduce” and an average target price of $134.57.

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.