Entropy Technologies LP Purchases 13,705 Shares of Teleflex Incorporated (NYSE:TFX)

Key Points

• Entropy Technologies LP significantly increased its stake in Teleflex by 201.9% during Q1, holding 20,494 shares valued at $2.83 million.
• Insider transactions included the acquisition of 1,500 shares by CEO Liam Kelly, increasing his ownership by 3.43%, highlighting executive confidence in the company's performance.
• Teleflex has received varying analyst ratings, with Wall Street Zen upgrading it to a "strong-buy" rating and a consensus target price of $141.57 amidst recent positive earnings reports.

Entropy Technologies LP increased its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 201.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,494 shares of the medical technology company's stock after acquiring an additional 13,705 shares during the period. Entropy Technologies LP's holdings in Teleflex were worth $2,832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Covestor Ltd lifted its stake in shares of Teleflex by 64.9% in the 1st quarter. Covestor Ltd now owns 480 shares of the medical technology company's stock valued at $66,000 after acquiring an additional 189 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Teleflex by 485.5% during the first quarter. Maryland State Retirement & Pension System now owns 15,739 shares of the medical technology company's stock worth $2,175,000 after purchasing an additional 13,051 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in shares of Teleflex during the first quarter worth about $223,000. Corbyn Investment Management Inc. MD boosted its holdings in shares of Teleflex by 2.4% during the first quarter. Corbyn Investment Management Inc. MD now owns 19,764 shares of the medical technology company's stock worth $2,731,000 after purchasing an additional 460 shares during the period. Finally, Costello Asset Management INC purchased a new stake in shares of Teleflex during the first quarter worth about $28,000. Institutional investors own 95.62% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Mizuho increased their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Truist Financial cut their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company cut their target price on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $141.57.

Insider Activity

In other Teleflex news, Director Gretchen R. Haggerty purchased 500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $114.75 per share, for a total transaction of $57,375.00. Following the completion of the purchase, the director directly owned 6,305 shares of the company's stock, valued at $723,498.75. This trade represents a 8.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jaewon Ryu purchased 1,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average price of $115.00 per share, with a total value of $172,500.00. Following the purchase, the director directly owned 3,727 shares of the company's stock, valued at approximately $428,605. The trade was a 67.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 5,500 shares of company stock valued at $633,590. 1.40% of the stock is currently owned by insiders.

Teleflex Stock Up 2.5%

Shares of NYSE:TFX traded up $3.03 during midday trading on Wednesday, reaching $122.67. The company's stock had a trading volume of 629,491 shares, compared to its average volume of 803,068. The firm has a 50 day moving average of $117.98 and a 200-day moving average of $133.72. The firm has a market capitalization of $5.42 billion, a P/E ratio of 28.86, a PEG ratio of 1.62 and a beta of 1.08. The company has a quick ratio of 1.44, a current ratio of 2.41 and a debt-to-equity ratio of 0.42. Teleflex Incorporated has a 12-month low of $108.90 and a 12-month high of $249.90.

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

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued 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 presently 32.00%.

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.