TD Asset Management Inc Acquires 48,832 Shares of Teleflex Incorporated (NYSE:TFX)

TD Asset Management Inc lifted its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 12.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,081 shares of the medical technology company’s stock after purchasing an additional 48,832 shares during the quarter. TD Asset Management Inc’s holdings in Teleflex were worth $95,928,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TFX. Riverview Trust Co bought a new position in shares of Teleflex during the first quarter worth approximately $31,000. Pineridge Advisors LLC bought a new position in Teleflex in the fourth quarter valued at approximately $35,000. Versant Capital Management Inc increased its stake in Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares during the last quarter. Blue Trust Inc. increased its stake in Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after acquiring an additional 93 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Teleflex by 67.2% in the fourth quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock valued at $57,000 after acquiring an additional 92 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction 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 in the company, valued at $1,313,159.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective 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. Stephens boosted their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial boosted their target price 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. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

Teleflex Price Performance

Shares of NYSE:TFX opened at $243.15 on Friday. The firm has a market cap of $11.46 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The firm’s fifty day moving average is $228.92 and its 200-day moving average is $219.77. 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 Incorporated has a 52 week low of $177.63 and a 52 week high of $257.85.

Teleflex (NYSE:TFX) last released 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 business 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%. Teleflex’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 earnings per share. Sell-side analysts predict that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.36 annualized dividend and a yield of 0.56%. Teleflex’s payout ratio is 21.83%.

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.