RBA Wealth Management LLC Invests $2.96 Million in Teleflex Incorporated (NYSE:TFX)

RBA Wealth Management LLC bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,394 shares of the medical technology company's stock, valued at approximately $2,956,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TFX. CX Institutional acquired a new stake in Teleflex during the 1st quarter worth $105,000. QRG Capital Management Inc. lifted its stake in Teleflex by 35.9% in the first quarter. QRG Capital Management Inc. now owns 2,959 shares of the medical technology company's stock valued at $409,000 after buying an additional 781 shares during the period. Raymond James Financial Inc. bought a new position in Teleflex during the fourth quarter worth about $10,342,000. IFP Advisors Inc boosted its holdings in Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock worth $55,000 after buying an additional 217 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Teleflex by 3,763.6% in the 1st quarter. UMB Bank n.a. now owns 425 shares of the medical technology company's stock valued at $59,000 after acquiring an additional 414 shares during the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Stock Down 0.4%

Shares of Teleflex stock traded down $0.43 during trading on Wednesday, reaching $121.40. The stock had a trading volume of 532,464 shares, compared to its average volume of 629,676. 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 company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 38.30, a P/E/G ratio of 1.85 and a beta of 1.08. The stock has a fifty day moving average price of $123.99 and a two-hundred day moving average price of $146.72. Teleflex Incorporated has a 52 week low of $115.94 and a 52 week high of $249.91.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.88 by $0.03. The firm had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business's quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.21 EPS. Sell-side analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex's payout ratio is 42.90%.

Analyst Ratings Changes

Several research analysts recently weighed in on TFX shares. Bank of America lowered shares of Teleflex from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $235.00 to $140.00 in a research note on Tuesday, March 4th. Mizuho set a $155.00 price target on shares of Teleflex in a research report on Wednesday, April 16th. Wall Street Zen cut shares of Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday. Royal Bank Of Canada reduced their target price on Teleflex from $150.00 to $145.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $164.63.

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.