Neo Ivy Capital Management Takes $2.30 Million Position in Teleflex Incorporated (NYSE:TFX)

Key Points

• Neo Ivy Capital Management has acquired a new stake in Teleflex Incorporated, purchasing 16,674 shares valued at approximately $2,304,000 during the 1st quarter.
• Analysts have recently adjusted their price targets for Teleflex, with the average target now set at $159.63 amid various ratings including one sell, nine hold, and two buy ratings.
• Teleflex has announced a quarterly dividend of $0.34, reflecting an annual yield of 1.16% and a payout ratio of 42.90%.

Neo Ivy Capital Management bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,674 shares of the medical technology company's stock, valued at approximately $2,304,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Teleflex in the fourth quarter valued at $29,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after buying an additional 100 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Teleflex by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 231 shares during the period. Allworth Financial LP boosted its stake in shares of Teleflex by 504.8% in the first quarter. Allworth Financial LP now owns 254 shares of the medical technology company's stock valued at $34,000 after purchasing an additional 212 shares during the period. Finally, True Wealth Design LLC grew its stake in Teleflex by 62.3% during the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock worth $48,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

Shares of TFX traded down $0.19 during mid-day trading on Monday, hitting $117.00. The company's stock had a trading volume of 89,365 shares, compared to its average volume of 818,135. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $119.49 and a 200 day simple moving average of $138.74. The firm has a market capitalization of $5.17 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.84 and a beta of 1.08. Teleflex Incorporated has a 1-year low of $108.90 and a 1-year high of $249.90.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.03. The firm 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 14.73% and a net margin of 4.96%. Teleflex's quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the business posted $3.21 EPS. Analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex's dividend payout ratio (DPR) is presently 42.90%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TFX shares. Wells Fargo & Company lowered their target price on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley cut their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Mizuho decreased their target price on Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $130.00 target price on Teleflex and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen downgraded Teleflex from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Teleflex has a consensus rating of "Hold" and an average price target of $159.63.

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.