Mackenzie Financial Corp Raises Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Key Points

• Mackenzie Financial Corp increased its stake in Teleflex Incorporated by 45.1% in Q1, now owning approximately 52,651 shares valued at $7.26 million.
• Teleflex reported earnings per share (EPS) of $3.73 for the last quarter, exceeding estimates by $0.37, with a year-over-year revenue growth of 4.2%.
• The company announced a quarterly dividend of $0.34 per share to be paid on September 15, representing an annual yield of 1.1%.

Mackenzie Financial Corp boosted its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 45.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,651 shares of the medical technology company's stock after purchasing an additional 16,370 shares during the period. Mackenzie Financial Corp owned about 0.11% of Teleflex worth $7,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Headlands Technologies LLC purchased a new position in Teleflex in the fourth quarter valued at about $29,000. Whipplewood Advisors LLC boosted its holdings in Teleflex by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 231 shares during the last quarter. Allworth Financial LP boosted its holdings in Teleflex by 504.8% in the first quarter. Allworth Financial LP now owns 254 shares of the medical technology company's stock valued at $34,000 after purchasing an additional 212 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in Teleflex by 62.3% in the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock valued at $48,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Trading Up 4.9%

Shares of NYSE TFX opened at $119.54 on Friday. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. Teleflex Incorporated has a 12-month low of $108.90 and a 12-month high of $249.90. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock's 50 day simple moving average is $118.83 and its 200 day simple moving average is $137.60.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 14.73% and a net margin of 4.96%. The business's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $3.42 EPS. Equities research analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The firm also recently announced 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. This represents a $1.36 annualized dividend and a yield of 1.1%. Teleflex's payout ratio is currently 42.90%.

Analysts Set New Price Targets

TFX has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Mizuho reduced their target price on Teleflex from $150.00 to $130.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Truist Financial reduced their target price on Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Morgan Stanley reduced their target price on Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Wall Street Zen downgraded Teleflex from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.

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