Connecticut Wealth Management LLC Boosts Stock Position in Teleflex Incorporated (NYSE:TFX)

Connecticut Wealth Management LLC lifted its stake in Teleflex Incorporated (NYSE:TFX) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,347 shares of the medical technology company’s stock after purchasing an additional 335 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Teleflex were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of Teleflex by 332.3% during the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 103 shares during the period. Venturi Wealth Management LLC acquired a new position in Teleflex in the 3rd quarter valued at about $27,000. Covestor Ltd boosted its holdings in Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Teleflex by 75.3% in the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after buying an additional 58 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Up 2.2 %

Teleflex stock traded up $4.28 during mid-day trading on Friday, reaching $203.01. 604,098 shares of the company’s stock were exchanged, compared to its average volume of 322,570. The company has a quick ratio of 1.29, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $262.97. The company has a market cap of $9.56 billion, a P/E ratio of 32.59, a P/E/G ratio of 1.94 and a beta of 1.13. The company has a fifty day moving average of $217.27 and a 200-day moving average of $226.57.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. During the same period last year, the firm earned $3.09 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Teleflex Incorporated will post 13.72 EPS for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex’s payout ratio is 21.83%.

Analysts Set New Price Targets

A number of research firms have commented on TFX. Royal Bank of Canada reduced their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Truist Financial dropped their price target on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Insider Activity at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the sale, 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 SEC, which is available through the SEC website. 1.43% of the stock is owned by corporate insiders.

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.