SRS Capital Advisors Inc. Increases Stock Holdings in Teleflex Incorporated (NYSE:TFX)

SRS Capital Advisors Inc. lifted its stake in Teleflex Incorporated (NYSE:TFX) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,587 shares of the medical technology company’s stock after purchasing an additional 60 shares during the period. SRS Capital Advisors Inc.’s holdings in Teleflex were worth $4,844,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in shares of Teleflex by 34.1% during the 1st quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock valued at $2,759,000 after purchasing an additional 3,105 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares during the last quarter. Boston Trust Walden Corp boosted its position in Teleflex by 2.7% in the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock valued at $49,199,000 after buying an additional 6,076 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after purchasing an additional 2,570 shares during the period. Finally, Sei Investments Co. grew its position in shares of Teleflex by 22.0% during the 1st quarter. Sei Investments Co. now owns 23,012 shares of the medical technology company’s stock worth $5,205,000 after buying an additional 4,156 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Up 0.9 %

Shares of TFX stock traded up $1.71 during trading hours on Friday, reaching $192.15. 515,661 shares of the company’s stock were exchanged, compared to its average volume of 378,038. The stock has a market cap of $8.92 billion, a PE ratio of 38.20, a PEG ratio of 1.99 and a beta of 1.18. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $230.35 and its two-hundred day moving average price is $223.19. Teleflex Incorporated has a 1 year low of $189.95 and a 1 year high of $257.85.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.64 EPS. Research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.71%. Teleflex’s payout ratio is presently 27.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TFX shares. Truist Financial restated a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Stephens upped their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

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.