Pallas Capital Advisors LLC Invests $430,000 in Teleflex Incorporated (NYSE:TFX)

Pallas Capital Advisors LLC bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,114 shares of the medical technology company's stock, valued at approximately $430,000.

Other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in Teleflex by 103.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Teleflex during the fourth quarter valued at about $29,000. Whipplewood Advisors LLC boosted its stake in shares of Teleflex by 7,700.0% during 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 in the last quarter. True Wealth Design LLC grew its holdings in shares of Teleflex by 62.3% during the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock worth $48,000 after purchasing an additional 104 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after buying an additional 217 shares during the period. Institutional investors and hedge funds own 95.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TFX. Wall Street Zen downgraded shares of Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Royal Bank of Canada cut their price target on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. Wells Fargo & Company decreased their price objective on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Finally, Raymond James downgraded Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $164.63.

Teleflex Trading Down 1.8%

Teleflex stock traded down $2.17 during trading hours on Friday, reaching $119.93. 368,994 shares of the company's stock were exchanged, compared to its average volume of 625,542. The firm's 50 day simple moving average is $126.88 and its 200 day simple moving average is $153.16. Teleflex Incorporated has a twelve month low of $118.70 and a twelve month high of $249.91. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $5.30 billion, a PE ratio of 23.84, a PEG ratio of 1.73 and a beta of 1.10.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. During the same period in the previous year, the company posted $3.21 earnings per share. The firm's revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.13%. Teleflex's dividend payout ratio is currently 42.90%.

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.