Fifth Third Bancorp Buys 66,082 Shares of Teleflex Incorporated $TFX

Key Points

• Fifth Third Bancorp sharply increased its Teleflex stake in the first quarter, buying 66,082 additional shares and lifting its holdings to 68,144 shares worth about $8.15 million.
• Teleflex reported better-than-expected quarterly results, posting EPS of $1.39 versus the $1.21 consensus and revenue of $548.3 million, up 32.3% from a year earlier.
• Analysts remain mixed but generally cautious-to-positive on the stock, with a consensus rating of “Hold” and an average price target of $148, while recent targets ranged as high as $159.

Fifth Third Bancorp lifted its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 3,204.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,144 shares of the medical technology company's stock after buying an additional 66,082 shares during the period. Fifth Third Bancorp owned about 0.15% of Teleflex worth $8,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its position in Teleflex by 478.1% in the third 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 during the period. Norges Bank bought a new position in shares of Teleflex during the fourth quarter valued at $66,076,000. Wolf Hill Capital Management LP bought a new position in shares of Teleflex during the fourth quarter valued at $47,405,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Teleflex by 123.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 660,800 shares of the medical technology company's stock valued at $80,855,000 after purchasing an additional 365,663 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Teleflex by 84.2% in the 1st quarter. Pzena Investment Management LLC now owns 699,125 shares of the medical technology company's stock valued at $83,622,000 after purchasing an additional 319,660 shares in the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Stock Performance

Shares of Teleflex stock opened at $131.94 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.55 and a quick ratio of 2.03. The firm has a market cap of $5.84 billion, a P/E ratio of -5.79, a P/E/G ratio of 0.97 and a beta of 0.82. The firm has a 50 day simple moving average of $130.38 and a 200 day simple moving average of $120.30. Teleflex Incorporated has a fifty-two week low of $100.18 and a fifty-two week high of $139.67.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Teleflex had a positive return on equity of 13.29% and a negative net margin of 35.88%.The firm had revenue of $548.30 million for the quarter, compared to the consensus estimate of $536.91 million. During the same quarter in the prior year, the business earned $1.44 EPS. The business's revenue for the quarter was up 32.3% compared to the same quarter last year. Teleflex has set its FY 2026 guidance at 6.250-6.550 EPS. Sell-side analysts predict that Teleflex Incorporated will post 6.7 earnings per share for the current fiscal year.

Teleflex Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America upgraded shares of Teleflex from an "underperform" rating to a "neutral" rating and set a $135.00 target price for the company in a research report on Monday, April 13th. Royal Bank Of Canada upgraded shares of Teleflex from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $135.00 to $155.00 in a research report on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Teleflex in a research note on Wednesday, July 8th. They set an "outperform" rating and a $159.00 price objective on the stock. Zacks Research raised shares of Teleflex from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Teleflex in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $148.00.

About Teleflex

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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