Invenomic Capital Management LP Buys Shares of 22,981 Teleflex Incorporated (NYSE:TFX)

Invenomic Capital Management LP acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,981 shares of the medical technology company's stock, valued at approximately $4,090,000.

Several other hedge funds have also made changes to their positions in the business. Vontobel Holding Ltd. raised its position in shares of Teleflex by 21.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after buying an additional 250 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Teleflex by 5.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock worth $19,263,000 after buying an additional 5,322 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of Teleflex in the 4th quarter worth $729,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Teleflex by 35.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock worth $1,053,000 after buying an additional 1,527 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Teleflex by 3.9% in the 4th quarter. Boston Trust Walden Corp now owns 294,614 shares of the medical technology company's stock worth $52,435,000 after buying an additional 11,052 shares during the period. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Up 2.1%

NYSE:TFX traded up $2.66 during mid-day trading on Friday, reaching $129.15. The stock had a trading volume of 542,769 shares, compared to its average volume of 638,696. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. Teleflex Incorporated has a 1-year low of $120.06 and a 1-year high of $249.91. The stock's 50 day simple moving average is $132.83 and its two-hundred day simple moving average is $162.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. The business had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the firm earned $3.21 earnings per share. Equities analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.05%. Teleflex's payout ratio is currently 42.90%.

Analysts Set New Price Targets

TFX has been the subject of several recent research reports. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. Wells Fargo & Company lowered their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their price target on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Raymond James downgraded Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Finally, Truist Financial lowered their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $164.63.

Teleflex 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.