Arkadios Wealth Advisors Invests $461,000 in Teleflex Incorporated (NYSE:TFX)

Key Points

• Arkadios Wealth Advisors has acquired 3,339 shares of Teleflex Incorporated, valued at approximately $461,000, marking a significant investment in the medical technology company during the 1st quarter.
• Teleflex's recent earnings report showed earnings per share of $3.73, exceeding analysts' expectations, with a revenue increase of 4.2% year-over-year to $780.90 million.
• The company has declared a quarterly dividend of $0.34 per share, with an annualized yield of 1.2%, reflecting a healthy dividend payout ratio of 32.00%.

Arkadios Wealth Advisors bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,339 shares of the medical technology company's stock, valued at approximately $461,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in Teleflex during the first quarter valued at about $1,242,000. Amalgamated Bank grew its position 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 acquiring an additional 5,095 shares during the period. New York State Teachers Retirement System grew its position 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 acquiring an additional 5,482 shares during the period. Brown Advisory Inc. boosted its position in shares of Teleflex by 34.2% in the first quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock worth $349,000 after buying an additional 643 shares during the period. Finally, CX Institutional purchased a new stake in shares of Teleflex in the first quarter worth about $105,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TFX shares. Morgan Stanley reduced their price target on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada increased their price target on Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Wall Street Zen raised Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Mizuho increased their price target on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, Truist Financial reduced their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $141.57.

Teleflex Stock Performance

Shares of NYSE TFX traded up $3.01 during mid-day trading on Friday, hitting $118.50. The company had a trading volume of 381,625 shares, compared to its average volume of 804,609. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.56 and a beta of 1.08. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44. The firm's 50 day simple moving average is $118.16 and its two-hundred day simple moving average is $135.36.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.36 by $0.37. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The firm had revenue of $780.90 million for the quarter, compared to analysts' expectations of $771.53 million. During the same period last year, the firm earned $3.42 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Teleflex's dividend payout ratio (DPR) is 32.00%.

Insider Activity at Teleflex

In other news, Director Jaewon Ryu purchased 1,500 shares of the stock in a transaction dated Tuesday, August 5th. The shares were bought at an average cost of $115.00 per share, for a total transaction of $172,500.00. Following the transaction, the director owned 3,727 shares in the company, valued at $428,605. This trade represents a 67.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stuart A. Randle acquired 1,000 shares of Teleflex stock in a transaction dated Tuesday, August 5th. The shares were bought at an average cost of $115.86 per share, with a total value of $115,860.00. Following the completion of the purchase, the director owned 7,547 shares in the company, valued at approximately $874,395.42. This represents a 15.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 5,500 shares of company stock worth $633,590 in the last quarter. Company insiders own 1.40% of the company's stock.

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.