iA Global Asset Management Inc. Acquires 113 Shares of Teleflex Incorporated (NYSE:TFX)

iA Global Asset Management Inc. boosted its holdings in Teleflex Incorporated (NYSE:TFX) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,249 shares of the medical technology company’s stock after purchasing an additional 113 shares during the period. iA Global Asset Management Inc.’s holdings in Teleflex were worth $683,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems increased its stake in shares of Teleflex by 1.1% in the fourth quarter. Kentucky Retirement Systems now owns 3,760 shares of the medical technology company’s stock worth $938,000 after buying an additional 42 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Teleflex by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock valued at $584,000 after acquiring an additional 53 shares in the last quarter. KBC Group NV raised its holdings in shares of Teleflex by 1.8% during the fourth quarter. KBC Group NV now owns 3,173 shares of the medical technology company’s stock valued at $791,000 after acquiring an additional 55 shares in the last quarter. Empirical Finance LLC lifted its stake in Teleflex by 3.9% in the first quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock worth $354,000 after acquiring an additional 58 shares during the period. Finally, Wahed Invest LLC boosted its holdings in Teleflex by 8.9% in the fourth quarter. Wahed Invest LLC now owns 798 shares of the medical technology company’s stock valued at $199,000 after acquiring an additional 65 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Stock Performance

Shares of TFX stock opened at $245.27 on Friday. The company’s 50-day moving average is $225.49 and its 200 day moving average is $219.94. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. Teleflex Incorporated has a one year low of $177.63 and a one year high of $257.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58.

Teleflex (NYSE:TFX) last announced its quarterly earnings results 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. The firm had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 earnings per share. Sell-side analysts expect that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. Teleflex’s dividend payout ratio is presently 21.83%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TFX shares. Truist Financial increased their price target on shares of Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, May 3rd. Stephens lifted their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Finally, Royal Bank of Canada raised their target price 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average target price of $265.57.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.