RBA Wealth Management LLC Buys New Shares in Teleflex Incorporated (NYSE:TFX)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Intact Investment Management Inc. acquired a new stake in Teleflex during the 1st quarter worth about $69,000. Praxis Investment Management Inc. acquired a new stake in shares of Teleflex during the 1st quarter valued at about $345,000. State of Alaska Department of Revenue grew its position in shares of Teleflex by 386.0% during the 1st quarter. State of Alaska Department of Revenue now owns 25,734 shares of the medical technology company's stock valued at $3,556,000 after acquiring an additional 20,439 shares during the period. QRG Capital Management Inc. grew its position in shares of Teleflex by 35.9% during the 1st quarter. QRG Capital Management Inc. now owns 2,959 shares of the medical technology company's stock valued at $409,000 after acquiring an additional 781 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Teleflex by 5.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,665 shares of the medical technology company's stock valued at $2,441,000 after acquiring an additional 942 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TFX shares. Wall Street Zen cut Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday. Mizuho set a $155.00 target price on Teleflex in a research report on Wednesday, April 16th. Royal Bank Of Canada decreased their price target on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Truist Financial decreased their price target on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Wells Fargo & Company decreased their price target on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $164.63.

Teleflex Trading Down 0.1%

TFX opened at $119.42 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32. The company's 50 day simple moving average is $124.41 and its two-hundred day simple moving average is $147.58. Teleflex Incorporated has a 1-year low of $115.94 and a 1-year high of $249.91. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10.

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

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.14%. 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.

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