T. Rowe Price Investment Management Inc. Raises Stake in Teleflex Incorporated $TFX

Key Points

• T. Rowe Price Investment Management Inc. raised its stake in Teleflex by 0.7%, owning 14.07% of the company, which is valued at approximately $859 million.
• Teleflex reported a quarterly earnings per share (EPS) of $3.73, surpassing estimates and showing a 4.2% increase in revenue year-over-year.
• The company announced a $0.34 quarterly dividend, with a payout ratio of 32%, to be paid on September 15th.

T. Rowe Price Investment Management Inc. increased its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,216,763 shares of the medical technology company's stock after purchasing an additional 43,642 shares during the quarter. T. Rowe Price Investment Management Inc. owned 14.07% of Teleflex worth $859,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 purchasing an additional 100 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Teleflex during the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new stake in shares of Teleflex during the 1st quarter worth about $28,000. Brooklyn Investment Group increased its position in shares of Teleflex by 258.6% during the 1st quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock worth $29,000 after purchasing an additional 150 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its position in shares of Teleflex by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock worth $32,000 after purchasing an additional 231 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Teleflex Stock Performance

Shares of TFX opened at $124.0840 on Wednesday. The stock has a 50-day simple moving average of $117.85 and a 200-day simple moving average of $131.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.44 and a current ratio of 2.41. The stock has a market capitalization of $5.48 billion, a PE ratio of 29.20, a PEG ratio of 1.67 and a beta of 1.08. Teleflex Incorporated has a 1 year low of $108.90 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.37. The business had revenue of $780.90 million during the quarter, compared to analysts' expectations of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%.The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.42 EPS. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. On average, analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

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

Insiders Place Their Bets

In related news, Director Stuart A. Randle acquired 1,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average price of $115.86 per share, for a total transaction of $115,860.00. Following the purchase, the director owned 7,547 shares of the company's stock, valued at $874,395.42. This represents a 15.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen R. Haggerty acquired 500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $114.75 per share, with a total value of $57,375.00. Following the purchase, the director directly owned 6,305 shares in the company, valued at approximately $723,498.75. This trade represents a 8.61% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 5,500 shares of company stock worth $633,590. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TFX shares. Mizuho raised their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Morgan Stanley lowered their target price on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada raised their target price on Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Wells Fargo & Company lowered their target price on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $141.57.

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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