56,700 Shares in Teleflex Incorporated $TFX Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies acquired 56,700 Teleflex shares worth approximately $6.78 million, giving it a 0.13% stake. Hedge funds and other institutional investors collectively own 95.62% of the company.
• Analysts raised several price targets, including Needham’s increase to $159 and RBC’s upgrade to “outperform.” Despite these positive revisions, Teleflex carries a consensus “Hold” rating with an average target price of $148.90.
• Teleflex exceeded quarterly expectations with adjusted earnings of $1.39 per share versus the $1.21 consensus and revenue of $548.3 million, up 32.3% year over year. The company also pays a quarterly dividend of $0.34 per share, yielding about 1.0% annually.

Renaissance Technologies LLC purchased a new position in Teleflex Incorporated (NYSE:TFX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,700 shares of the medical technology company's stock, valued at approximately $6,782,000. Renaissance Technologies LLC owned 0.13% of Teleflex at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its holdings in shares of Teleflex by 82.5% in the fourth quarter. Banque Cantonale Vaudoise now owns 250 shares of the medical technology company's stock worth $31,000 after buying an additional 113 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Teleflex during the fourth quarter worth $37,000. UMB Bank n.a. grew its stake in Teleflex by 57.1% during the fourth quarter. UMB Bank n.a. now owns 311 shares of the medical technology company's stock valued at $38,000 after acquiring an additional 113 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Teleflex in the 4th quarter valued at $45,000. Finally, Kestra Advisory Services LLC bought a new stake in Teleflex in the 4th quarter valued at $45,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on TFX shares. Needham & Company LLC increased their price objective on shares of Teleflex from $147.00 to $159.00 and gave the company a "buy" rating in a report on Friday. BMO Capital Markets began coverage on Teleflex in a report on Wednesday, July 8th. They issued an "outperform" rating and a $159.00 target price on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $150.00 target price on shares of Teleflex in a research report on Friday, May 8th. Royal Bank Of Canada upgraded Teleflex from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $135.00 to $155.00 in a report on Friday, May 8th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $143.00 price objective (up from $135.00) on shares of Teleflex in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $148.90.

Teleflex Stock Performance

Shares of NYSE:TFX opened at $140.06 on Wednesday. Teleflex Incorporated has a 52 week low of $100.18 and a 52 week high of $144.19. The stock has a market capitalization of $6.20 billion, a P/E ratio of -6.14, a PEG ratio of 1.04 and a beta of 0.81. The firm has a fifty day simple moving average of $131.27 and a two-hundred day simple moving average of $121.97. The company has a quick ratio of 2.03, a current ratio of 2.55 and a debt-to-equity ratio of 0.82.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, May 7th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. The firm had revenue of $548.30 million for the quarter, compared to the consensus estimate of $536.91 million. Teleflex had a negative net margin of 35.88% and a positive return on equity of 13.29%. The business's quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. Teleflex has set its FY 2026 guidance at 6.250-6.550 EPS. On average, analysts expect that Teleflex Incorporated will post 6.7 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, May 25th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 22nd. Teleflex's payout ratio is presently -5.96%.

About Teleflex

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company's offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.

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