Diamond Hill Capital Management Inc. Buys New Position in Teleflex Incorporated (NYSE:TFX)

Diamond Hill Capital Management Inc. purchased a new position in Teleflex Incorporated (NYSE:TFX) during the 4th quarter, HoldingsChannel reports. The firm purchased 262,364 shares of the medical technology company’s stock, valued at approximately $46,696,000.

Other large investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in shares of Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Teleflex in the 3rd quarter valued at $40,000. True Wealth Design LLC boosted its holdings in Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the period. IFP Advisors Inc grew its position in Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after purchasing an additional 217 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Teleflex by 184.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company’s stock worth $56,000 after purchasing an additional 146 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler reissued a “neutral” rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Royal Bank of Canada lowered Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Bank of America cut Teleflex from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Truist Financial decreased their price target on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $182.63.

Teleflex Trading Up 0.4 %

Shares of NYSE TFX opened at $136.04 on Friday. Teleflex Incorporated has a 1-year low of $128.55 and a 1-year high of $249.90. The company has a 50-day moving average of $167.87 and a two-hundred day moving average of $198.71. The company has a market cap of $6.31 billion, a PE ratio of 27.04, a P/E/G ratio of 1.73 and a beta of 1.21. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. As a group, equities analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, March 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s dividend payout ratio is 95.77%.

Teleflex Company 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.