California State Teachers Retirement System Boosts Stock Holdings in Teleflex Incorporated $TFX

Key Points

• California State Teachers Retirement System increased its Teleflex stake by 23.2% in the first quarter, bringing its holdings to 51,472 shares valued at approximately $6.2 million. Institutional investors collectively own 95.62% of the company.
• Teleflex reported quarterly earnings of $1.39 per share, beating estimates of $1.21, while revenue rose 32.3% year over year to $548.3 million. The company also declared a quarterly dividend of $0.34 per share, equating to a 1.0% annual yield.
• Analyst sentiment remains mixed, with Teleflex receiving a consensus “Hold” rating and an average price target of $148.90; the stock recently traded at $137.18.

California State Teachers Retirement System lifted its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 23.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,472 shares of the medical technology company's stock after acquiring an additional 9,709 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Teleflex worth $6,157,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Teleflex by 478.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,366,131 shares of the medical technology company's stock valued at $287,603,000 after acquiring an additional 1,956,811 shares in the last quarter. Norges Bank bought a new stake in shares of Teleflex in the 4th quarter worth $66,076,000. Wolf Hill Capital Management LP bought a new stake in shares of Teleflex in the 4th quarter worth $47,405,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Teleflex by 123.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 660,800 shares of the medical technology company's stock worth $80,855,000 after purchasing an additional 365,663 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Teleflex by 84.2% in the first quarter. Pzena Investment Management LLC now owns 699,125 shares of the medical technology company's stock worth $83,622,000 after purchasing an additional 319,660 shares during the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Trading Down 2.1%

Shares of NYSE:TFX opened at $137.18 on Thursday. The stock's 50-day simple moving average is $131.41 and its two-hundred day simple moving average is $122.20. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -6.02, a PEG ratio of 1.04 and a beta of 0.81. Teleflex Incorporated has a 52-week low of $100.18 and a 52-week high of $144.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.03 and a current ratio of 2.55.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $548.30 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the business earned $1.44 EPS. Analysts expect that Teleflex Incorporated will post 6.7 EPS for the current year.

Teleflex Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TFX shares. Wells Fargo & Company upped their price target on Teleflex from $130.00 to $138.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Truist Financial reiterated a "hold" rating and issued a $143.00 price objective (up from $135.00) on shares of Teleflex in a report on Monday, May 11th. Weiss Ratings reissued a "sell (d)" rating on shares of Teleflex in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Teleflex from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Mizuho raised their price target on shares of Teleflex from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Teleflex currently has a consensus rating of "Hold" and a consensus target price of $148.90.

Teleflex Profile

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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