Teachers Retirement System of The State of Kentucky Makes New Investment in Teleflex Incorporated (NYSE:TFX)

Teachers Retirement System of The State of Kentucky bought a new position in shares of Teleflex Incorporated (NYSE:TFX – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,130 shares of the medical technology company’s stock, valued at approximately $4,660,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Utah Retirement Systems raised its stake in Teleflex by 0.6% during the 3rd quarter. Utah Retirement Systems now owns 8,368 shares of the medical technology company’s stock worth $1,686,000 after acquiring an additional 47 shares during the period. Tealwood Asset Management Inc. raised its stake in Teleflex by 1.6% during the 3rd quarter. Tealwood Asset Management Inc. now owns 3,138 shares of the medical technology company’s stock worth $632,000 after acquiring an additional 48 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Teleflex by 3.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,411 shares of the medical technology company’s stock worth $284,000 after acquiring an additional 48 shares during the period. Ensign Peak Advisors Inc raised its stake in Teleflex by 0.3% during the 3rd quarter. Ensign Peak Advisors Inc now owns 16,692 shares of the medical technology company’s stock worth $3,362,000 after acquiring an additional 50 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Teleflex by 0.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,195 shares of the medical technology company’s stock worth $1,523,000 after acquiring an additional 54 shares during the period. Institutional investors own 93.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TFX. Truist Financial decreased their target price on shares of Teleflex from $260.00 to $250.00 and set a “hold” rating on the stock in a research note on Monday, February 27th. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Monday, March 13th. Needham & Company LLC reiterated a “buy” rating and set a $291.00 price objective on shares of Teleflex in a research report on Friday, February 24th. Morgan Stanley lifted their price objective on shares of Teleflex from $236.00 to $280.00 and gave the company an “equal weight” rating in a research report on Friday, January 6th. Finally, Stephens lifted their price objective on shares of Teleflex from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, December 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus price target of $271.69.

Teleflex Stock Up 1.6 %

NYSE TFX opened at $235.84 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $240.88 and a two-hundred day moving average of $229.35. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.36 and a beta of 0.98. Teleflex Incorporated has a 52 week low of $182.65 and a 52 week high of $356.72.

Teleflex (NYSE:TFX – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The medical technology company reported $3.52 EPS for the quarter, topping the consensus estimate of $3.44 by $0.08. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $760.29 million. Teleflex had a net margin of 13.01% and a return on equity of 15.87%. Teleflex’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. On average, analysts predict that Teleflex Incorporated will post 13.29 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, March 2nd. Teleflex’s payout ratio is 17.71%.

About Teleflex

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Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.