Covea Finance Takes $1.53 Million Position in Teleflex Incorporated (NYSE:TFX)

Covea Finance purchased a new position in Teleflex Incorporated (NYSE:TFX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,200 shares of the medical technology company’s stock, valued at approximately $1,533,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its holdings in Teleflex by 1.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after buying an additional 46 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Teleflex by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after buying an additional 53 shares in the last quarter. Empirical Finance LLC raised its position in Teleflex by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock worth $354,000 after buying an additional 58 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Teleflex by 0.3% during the 2nd quarter. SRS Capital Advisors Inc. now owns 19,527 shares of the medical technology company’s stock valued at $4,107,000 after acquiring an additional 62 shares during the last quarter. Finally, Wahed Invest LLC grew its position in Teleflex by 8.9% in the 4th quarter. Wahed Invest LLC now owns 798 shares of the medical technology company’s stock worth $199,000 after purchasing an additional 65 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Teleflex Price Performance

Shares of NYSE TFX traded up $1.41 during mid-day trading on Friday, reaching $236.03. The company’s stock had a trading volume of 213,855 shares, compared to its average volume of 367,647. The stock has a fifty day moving average of $240.18 and a two-hundred day moving average of $222.51. The firm has a market capitalization of $11.12 billion, a PE ratio of 37.89, a P/E/G ratio of 2.13 and a beta of 1.16. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $257.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same period last year, the firm posted $3.41 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.58%. Teleflex’s payout ratio is 21.83%.

Analysts Set New Price Targets

TFX has been the topic of several recent research reports. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Stephens upped their price objective on Teleflex from $275.00 to $290.00 and gave the stock 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 company a “hold” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada upped their price target on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.71.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

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.