Praxis Investment Management Inc. Makes New $345,000 Investment in Teleflex Incorporated (NYSE:TFX)

Praxis Investment Management Inc. purchased a new position in Teleflex Incorporated (NYSE:TFX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,500 shares of the medical technology company's stock, valued at approximately $345,000.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position 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 purchasing an additional 100 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Teleflex during the 4th quarter valued at $29,000. Whipplewood Advisors LLC increased its position in Teleflex by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock worth $32,000 after buying an additional 231 shares in the last quarter. True Wealth Design LLC increased its position in Teleflex by 62.3% during the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock worth $48,000 after buying an additional 104 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock worth $55,000 after acquiring an additional 217 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Trading Up 0.3%

TFX stock traded up $0.30 on Thursday, hitting $119.45. 303,573 shares of the company were exchanged, compared to its average volume of 629,577. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 37.68, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. Teleflex Incorporated has a twelve month low of $115.94 and a twelve month high of $249.91. The business's fifty day moving average is $124.81 and its two-hundred day moving average is $148.76.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data 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. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. During the same period in the prior year, the firm posted $3.21 EPS. The business's revenue for the quarter was down 5.0% on a year-over-year basis. As a group, research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex's dividend payout ratio is currently 42.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James Financial downgraded shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Mizuho set a $155.00 price target on shares of Teleflex in a report on Wednesday, April 16th. Morgan Stanley reduced their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Citizens Jmp lowered shares of Teleflex from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Finally, Royal Bank Of Canada lowered their target price on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $164.63.

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.