Alberta Investment Management Corp Buys 12,700 Shares of Teleflex Incorporated (NYSE:TFX)

Key Points

• Alberta Investment Management Corp increased its stake in Teleflex by 112.4% after purchasing an additional 12,700 shares, bringing its total ownership to approximately $3.3 million.
• Teleflex recently reported better-than-expected earnings with an EPS of $3.73 for the quarter, exceeding forecasts by $0.37 and marking a 4.2% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.34 per share, reflecting a yield of 1.2% with a payout ratio of 32%.

Alberta Investment Management Corp raised its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 112.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 24,000 shares of the medical technology company's stock after purchasing an additional 12,700 shares during the period. Alberta Investment Management Corp owned 0.05% of Teleflex worth $3,317,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in Teleflex during the first quarter valued at about $1,242,000. Amalgamated Bank grew its holdings in Teleflex by 56.9% during the first quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock valued at $1,941,000 after purchasing an additional 5,095 shares during the period. New York State Teachers Retirement System grew its holdings in Teleflex by 13.9% during the first quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock valued at $6,227,000 after purchasing an additional 5,482 shares during the period. Brown Advisory Inc. grew its holdings in Teleflex by 34.2% during the first quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock valued at $349,000 after purchasing an additional 643 shares during the period. Finally, CX Institutional bought a new stake in Teleflex during the first quarter valued at about $105,000. Institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

Shares of Teleflex stock opened at $115.87 on Friday. The stock has a 50 day moving average of $118.73 and a 200 day moving average of $136.89. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90. The firm has a market cap of $5.12 billion, a PE ratio of 27.26, a PEG ratio of 1.81 and a beta of 1.08. The company has a current ratio of 2.41, a quick ratio of 1.32 and a debt-to-equity ratio of 0.42.

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. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The company had revenue of $780.90 million during the quarter, compared to analyst estimates of $771.53 million. During the same period in the prior year, the company earned $3.42 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.2%. Teleflex's dividend payout ratio is 32.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TFX. Mizuho upped their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday. Morgan Stanley dropped their price objective on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Truist Financial dropped their price objective on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company dropped their price objective on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Wall Street Zen raised Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Teleflex has an average rating of "Hold" and a consensus 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.

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