Kovitz Investment Group Partners LLC Invests $2.16 Million in Teleflex Incorporated $TFX

Key Points

• Kovitz Investment Group Partners LLC invested approximately $2.16 million in Teleflex Incorporated by acquiring 15,638 shares of the company.
• Various institutional investors have made significant adjustments to their holdings in Teleflex, with Public Sector Pension Investment Board increasing its stake by 2,440.9% in the first quarter.
• Analysts have issued mixed ratings for Teleflex, with one upgrade to a "strong-buy" rating, while the consensus rating remains a "hold."

Kovitz Investment Group Partners LLC bought a new position in Teleflex Incorporated (NYSE:TFX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,638 shares of the medical technology company's stock, valued at approximately $2,161,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after buying an additional 100 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Teleflex in the first quarter worth about $27,000. Costello Asset Management INC purchased a new stake in shares of Teleflex in the first quarter worth about $28,000. Whipplewood Advisors LLC boosted its position in shares of Teleflex by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock worth $32,000 after buying an additional 231 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Teleflex by 504.8% in the first quarter. Allworth Financial LP now owns 254 shares of the medical technology company's stock worth $34,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Stock Up 3.8%

NYSE TFX traded up $4.6850 on Friday, hitting $129.2950. 444,429 shares of the stock traded hands, compared to its average volume of 791,507. The stock has a 50-day moving average of $117.96 and a 200 day moving average of $131.26. Teleflex Incorporated has a twelve month low of $108.90 and a twelve month high of $249.90. The company has a market capitalization of $5.71 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42.

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

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, August 15th. This represents a $1.36 annualized dividend and a yield of 1.1%. Teleflex's dividend payout ratio is presently 32.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFX. Mizuho upped their target price on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wells Fargo & Company reduced their price target on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Morgan Stanley reduced their price target on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Truist Financial reduced their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen raised Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $141.57.

Insider Activity

In other news, Director Gretchen R. Haggerty acquired 500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were 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 represents a 8.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jaewon Ryu acquired 1,500 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of $115.00 per share, for a total transaction of $172,500.00. Following the purchase, the director directly owned 3,727 shares of the company's stock, valued at $428,605. This represents a 67.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,500 shares of company stock valued at $633,590 over the last three months. Company insiders own 1.40% of the company's stock.

Teleflex Company 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.