Diamond Hill Capital Management Inc. Purchases 322,222 Shares of Teleflex Incorporated (NYSE:TFX)

Diamond Hill Capital Management Inc. lifted its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 122.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,586 shares of the medical technology company's stock after purchasing an additional 322,222 shares during the quarter. Diamond Hill Capital Management Inc. owned 1.26% of Teleflex worth $80,784,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in Teleflex by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock valued at $1,098,693,000 after buying an additional 261,279 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Teleflex by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company's stock valued at $202,161,000 after acquiring an additional 8,307 shares in the last quarter. Invesco Ltd. increased its position in shares of Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock valued at $190,188,000 after acquiring an additional 347,003 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Teleflex by 38.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company's stock valued at $105,102,000 after acquiring an additional 162,950 shares during the last quarter. Finally, Norges Bank bought a new stake in Teleflex during the fourth quarter worth about $100,328,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Performance

Shares of TFX traded down $1.05 during trading hours on Thursday, hitting $116.19. The company had a trading volume of 541,318 shares, compared to its average volume of 569,597. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 1.84 and a beta of 1.08. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90. The business has a fifty day moving average of $119.73 and a 200-day moving average of $139.72.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.03. The business had revenue of $700.67 million during the quarter, compared to analysts' expectations of $699.37 million. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The firm's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 earnings per share. Equities analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex's dividend payout ratio (DPR) is currently 42.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TFX shares. Wall Street Zen downgraded Teleflex from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Mizuho decreased their target price on shares of Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Wells Fargo & Company lowered their target price on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Truist Financial cut their price target on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Morgan Stanley lowered 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Teleflex has an average rating of "Hold" and a consensus target price of $159.63.

Teleflex Profile

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.