Strs Ohio Buys Shares of 22,000 Teleflex Incorporated $TFX

Key Points

• Strs Ohio has acquired 22,000 shares of Teleflex Incorporated, valued at approximately $3,040,000, in the first quarter, reflecting growing institutional interest in the company.
• Teleflex reported a quarterly EPS of $3.73, exceeding estimates and signifying a year-over-year revenue increase of 4.2% to $780.90 million.
• The company recently declared a $0.34 quarterly dividend, with an annualized yield of 1.1% and a payout ratio of 32%.

Strs Ohio acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,000 shares of the medical technology company's stock, valued at approximately $3,040,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TFX. Ameriprise Financial Inc. increased its holdings in Teleflex by 62.4% during the fourth quarter. Ameriprise Financial Inc. now owns 23,660 shares of the medical technology company's stock valued at $4,211,000 after buying an additional 9,094 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Teleflex by 9,420.0% during the fourth quarter. Lazard Asset Management LLC now owns 476 shares of the medical technology company's stock valued at $84,000 after buying an additional 471 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in Teleflex by 20.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,957 shares of the medical technology company's stock valued at $348,000 after buying an additional 330 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Teleflex during the fourth quarter valued at approximately $273,000. Finally, ProShare Advisors LLC increased its holdings in Teleflex by 6.4% during the fourth quarter. ProShare Advisors LLC now owns 12,281 shares of the medical technology company's stock valued at $2,186,000 after buying an additional 735 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Trading Down 2.5%

Shares of Teleflex stock traded down $3.16 during trading on Friday, hitting $122.64. The stock had a trading volume of 1,037,011 shares, compared to its average volume of 580,725. The firm's fifty day simple moving average is $121.66 and its 200-day simple moving average is $125.82. The stock has a market cap of $5.42 billion, a PE ratio of 28.86, a PEG ratio of 1.76 and a beta of 1.08. 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 Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $771.53 million. During the same quarter last year, the business posted $3.42 EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. As a group, sell-side analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.1%. Teleflex's dividend payout ratio (DPR) is presently 32.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on TFX shares. Wells Fargo & Company reduced their target price on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Mizuho upped their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of Teleflex from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 15th. Finally, Royal Bank Of Canada upped their price target on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $141.57.

Insider Activity at Teleflex

In related news, Director Gretchen R. Haggerty acquired 500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $114.75 per share, for a total transaction of $57,375.00. Following the acquisition, the director directly owned 6,305 shares of the company's stock, valued at $723,498.75. This represents a 8.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew A. Krakauer acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average price of $115.25 per share, with a total value of $115,250.00. Following the acquisition, the director directly owned 7,192 shares in the company, valued at $828,878. This represents a 16.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,500 shares of company stock worth $633,590 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

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.