Cooke & Bieler LP Buys 172,335 Shares of Teleflex Incorporated (NYSE:TFX)

Cooke & Bieler LP raised its stake in Teleflex Incorporated (NYSE:TFX) by 23.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 912,797 shares of the medical technology company’s stock after acquiring an additional 172,335 shares during the period. Teleflex comprises about 1.8% of Cooke & Bieler LP’s investment portfolio, making the stock its 13th largest position. Cooke & Bieler LP owned 1.94% of Teleflex worth $191,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of TFX. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Teleflex in the 1st quarter worth about $2,467,000. Victory Capital Management Inc. increased its holdings in shares of Teleflex by 47.8% during the fourth quarter. Victory Capital Management Inc. now owns 21,865 shares of the medical technology company’s stock worth $5,452,000 after buying an additional 7,070 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Teleflex by 35.5% in the fourth quarter. BNP Paribas Financial Markets now owns 39,735 shares of the medical technology company’s stock valued at $9,908,000 after acquiring an additional 10,405 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Teleflex by 9.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock worth $107,949,000 after acquiring an additional 35,847 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Teleflex by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 405,203 shares of the medical technology company’s stock worth $101,033,000 after acquiring an additional 12,150 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction 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 sale, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TFX shares. Truist Financial lifted their price objective on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Stephens lifted their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

Teleflex Trading Up 0.4 %

Teleflex stock traded up $1.01 during mid-day trading on Wednesday, hitting $245.85. The stock had a trading volume of 47,475 shares, compared to its average volume of 378,150. The stock has a market capitalization of $11.58 billion, a PE ratio of 39.30, a P/E/G ratio of 2.22 and a beta of 1.15. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $227.30 and a two-hundred day simple moving average of $219.43.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. The company had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 EPS. As a group, sell-side analysts forecast that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

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

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.