2,497 Shares in Teleflex Incorporated $TFX Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC purchased 2,497 shares of Teleflex Incorporated, valued at approximately $299,000, indicating growing institutional interest in the medical technology company.
• Teleflex reported a quarterly EPS of $3.73, exceeding consensus estimates, with a 4.2% year-over-year revenue increase to $780.90 million.
• The company has announced a quarterly dividend of $0.34 per share, reflecting a 1.1% yield and a payout ratio of 32%.

NorthCrest Asset Manangement LLC bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,497 shares of the medical technology company's stock, valued at approximately $299,000.

A number of other large investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its position in Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Teleflex by 38.3% in the first quarter. Signaturefd LLC now owns 433 shares of the medical technology company's stock valued at $60,000 after buying an additional 120 shares during the last quarter. Empirical Finance LLC lifted its position in Teleflex by 7.9% during the 1st quarter. Empirical Finance LLC now owns 1,690 shares of the medical technology company's stock worth $234,000 after buying an additional 124 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Teleflex by 30.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 556 shares of the medical technology company's stock worth $77,000 after acquiring an additional 129 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Teleflex by 2.7% during the 1st quarter. HighTower Advisors LLC now owns 5,102 shares of the medical technology company's stock worth $705,000 after acquiring an additional 133 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Insider Activity

In other Teleflex news, Director Andrew A. Krakauer bought 1,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost of $115.25 per share, with a total value of $115,250.00. Following the completion of the purchase, the director owned 7,192 shares in the company, valued at approximately $828,878. The trade was a 16.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stuart A. Randle acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average price of $115.86 per share, for a total transaction of $115,860.00. Following the completion of the acquisition, the director owned 7,547 shares of the company's stock, valued at $874,395.42. This trade represents a 15.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 5,500 shares of company stock valued at $633,590. Company insiders own 1.40% of the company's stock.

Teleflex Trading Up 0.4%

TFX traded up $0.47 during midday trading on Monday, reaching $123.10. 667,058 shares of the company were exchanged, compared to its average volume of 610,354. The stock has a market capitalization of $5.44 billion, a P/E ratio of 28.97, a PEG ratio of 1.71 and a beta of 1.08. Teleflex Incorporated has a one year low of $108.90 and a one year high of $249.90. The stock's 50-day simple moving average is $121.80 and its 200 day simple moving average is $125.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.44 and a current ratio of 2.41.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, beating analysts' consensus estimates of $3.36 by $0.37. The company had revenue of $780.90 million during the quarter, compared to analysts' expectations of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%.Teleflex's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.42 EPS. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. As a group, analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a $0.34 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.1%. Teleflex's dividend payout ratio is currently 32.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Mizuho increased their price objective on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen cut Teleflex from a "strong-buy" rating to a "buy" rating in a research note on Monday, September 15th. Finally, Wells Fargo & Company dropped their target price on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $141.57.

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.