Invenomic Capital Management LP Increases Position in Teleflex Incorporated $TFX

Key Points

• Invenomic Capital Management LP significantly increased its stake in Teleflex Incorporated by 1,400.1%, now holding approximately 344,732 shares worth about $47.6 million, making it the fund's 4th largest holding.
• Teleflex reported earnings of $3.73 EPS for the quarter, surpassing estimates, and projected FY 2025 guidance between $13.90 and $14.30 EPS.
• The company declared a quarterly dividend of $0.34 per share, set to be paid on September 15th, with a current dividend yield of 1.1%.

Invenomic Capital Management LP grew its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 1,400.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,732 shares of the medical technology company's stock after purchasing an additional 321,751 shares during the period. Teleflex makes up approximately 2.4% of Invenomic Capital Management LP's investment portfolio, making the stock its 4th largest holding. Invenomic Capital Management LP owned 0.78% of Teleflex worth $47,639,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Teleflex by 69.5% during the first quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company's stock worth $119,927,000 after acquiring an additional 355,720 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Teleflex by 122.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock worth $80,784,000 after acquiring an additional 322,222 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Teleflex by 229.9% during the first quarter. Principal Financial Group Inc. now owns 230,522 shares of the medical technology company's stock worth $31,856,000 after acquiring an additional 160,646 shares in the last quarter. Deutsche Bank AG raised its holdings in Teleflex by 62.5% during the fourth quarter. Deutsche Bank AG now owns 407,129 shares of the medical technology company's stock worth $72,461,000 after acquiring an additional 156,524 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Teleflex by 2,440.9% during the first quarter. Public Sector Pension Investment Board now owns 147,298 shares of the medical technology company's stock worth $20,355,000 after acquiring an additional 141,501 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jaewon Ryu purchased 1,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $115.00 per share, for a total transaction of $172,500.00. Following the purchase, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Liam Kelly acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $115.07 per share, with a total value of $172,605.00. Following the completion of the acquisition, the chief executive officer directly owned 45,267 shares of the company's stock, valued at $5,208,873.69. This trade represents a 3.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 5,500 shares of company stock worth $633,590 in the last ninety days. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TFX. Mizuho upped their target price on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wall Street Zen upgraded Teleflex from a "buy" rating to a "strong-buy" rating in a report on Sunday. Royal Bank Of Canada upped their target price on Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Finally, Wells Fargo & Company lowered their price target on Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $141.57.

Teleflex Stock Performance

Shares of Teleflex stock traded up $1.53 on Friday, hitting $130.62. The stock had a trading volume of 624,076 shares, compared to its average volume of 536,569. Teleflex Incorporated has a twelve month low of $108.90 and a twelve month high of $249.90. The business's 50 day moving average is $119.91 and its two-hundred day moving average is $127.34. The company has a quick ratio of 1.44, a current ratio of 2.41 and a debt-to-equity ratio of 0.42. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.82 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.36 by $0.37. The business had revenue of $780.90 million for the quarter, compared to the consensus estimate of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%.The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.42 earnings per share. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

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 paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. Teleflex's dividend payout ratio 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.