Millennium Management LLC Grows Holdings in Teleflex Incorporated $TFX

Key Points

• Millennium Management LLC increased its stake in Teleflex Incorporated by 57.8%, owning 394,633 shares valued at approximately $54.5 million as of its latest SEC filing.
• Teleflex reported a quarterly earnings per share of $3.73, beating expectations, and set its FY 2025 guidance at a range of $13.900 to $14.300 EPS.
• The firm declared a quarterly dividend of $0.34, resulting in an annualized yield of 1.0% and a payout ratio of 32.00%.

Millennium Management LLC increased its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 57.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,633 shares of the medical technology company's stock after purchasing an additional 144,531 shares during the period. Millennium Management LLC owned approximately 0.89% of Teleflex worth $54,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Teleflex in the first quarter valued at $27,000. Costello Asset Management INC purchased a new position in Teleflex in the first quarter valued at $28,000. Brooklyn Investment Group increased its holdings in Teleflex by 258.6% in the first quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock valued at $29,000 after buying an additional 150 shares in the last quarter. Finally, Whipplewood Advisors LLC increased 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 buying an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TFX. Wall Street Zen raised shares of Teleflex from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 7th. Royal Bank Of Canada lifted their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Mizuho lifted their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company lowered their price target on shares of 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $141.57.

Insider Activity at Teleflex

In other news, Director Stuart A. Randle bought 1,000 shares of Teleflex stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of $115.86 per share, with a total value of $115,860.00. Following the completion of the purchase, the director directly owned 7,547 shares of the company's stock, valued at approximately $874,395.42. This trade represents a 15.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Liam Kelly bought 1,500 shares of Teleflex stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $115.07 per share, for a total transaction of $172,605.00. Following the completion of the purchase, 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 bought 5,500 shares of company stock valued at $633,590 over the last ninety days. Corporate insiders own 1.40% of the company's stock.

Teleflex Price Performance

TFX traded down $2.03 on Friday, reaching $130.47. 712,975 shares of the company's stock were exchanged, compared to its average volume of 559,336. The stock has a market cap of $5.77 billion, a PE ratio of 30.70, a P/E/G ratio of 1.85 and a beta of 1.08. Teleflex Incorporated has a twelve month low of $108.90 and a twelve month high of $249.90. The stock's fifty day moving average price is $120.97 and its 200-day moving average price is $126.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.73 EPS 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 company had revenue of $780.90 million for the quarter, compared to the consensus estimate of $771.53 million. During the same period in the previous year, the firm earned $3.42 earnings per share. Teleflex's quarterly revenue was up 4.2% compared to the same quarter last year. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Sell-side analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.0%. Teleflex's payout ratio is 32.00%.

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.