United Services Automobile Association Takes Position in Teleflex Incorporated $TFX

Key Points

• United Services Automobile Association purchased 2,704 shares of Teleflex Incorporated, valued at approximately $373,000, marking a new investment for the fund in the 1st quarter of 2023.
• Several other institutional investors significantly increased their stakes in Teleflex, with Invenomic Capital Management LP boosting its holdings by 1,400.1% during the same period.
• Teleflex recently reported $3.73 earnings per share, exceeding analysts' estimates, and announced a quarterly dividend of $0.34 per share, which reflects a 1.0% dividend yield.

United Services Automobile Association bought a new position in shares of 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. The institutional investor bought 2,704 shares of the medical technology company's stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after buying an additional 100 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Teleflex in the 1st quarter worth approximately $27,000. Costello Asset Management INC purchased a new stake in shares of Teleflex in the 1st quarter worth approximately $28,000. Brooklyn Investment Group grew its stake in shares of Teleflex by 258.6% in the 1st quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock worth $29,000 after buying an additional 150 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in Teleflex by 7,700.0% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on TFX shares. Mizuho increased their target price on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Wells Fargo & Company lowered their price target on Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Royal Bank Of Canada raised their target price on Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Finally, Wall Street Zen cut Teleflex from a "strong-buy" rating to a "buy" rating in a report on Monday. 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 stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $141.57.

Teleflex Price Performance

NYSE TFX traded up $0.59 during trading on Wednesday, hitting $126.41. 75,176 shares of the stock traded hands, compared to its average volume of 772,937. The company has a market capitalization of $5.59 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. Teleflex Incorporated has a 12-month low of $108.90 and a 12-month high of $249.90. The company has a quick ratio of 1.44, a current ratio of 2.41 and a debt-to-equity ratio of 0.42. The firm has a 50-day simple moving average of $121.28 and a 200-day simple moving average of $125.94.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.36 by $0.37. The company had revenue of $780.90 million during the quarter, compared to analyst estimates of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%.The firm's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $3.42 earnings per share. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. As a group, analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

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

Insider Transactions at Teleflex

In other news, CEO Liam Kelly purchased 1,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $115.07 per share, for a total transaction of $172,605.00. Following the completion of the acquisition, the chief executive officer owned 45,267 shares of the company's stock, valued at approximately $5,208,873.69. This trade represents a 3.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stuart A. Randle purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $115.86 per share, with a total value of $115,860.00. Following the acquisition, the director directly owned 7,547 shares of the company's stock, valued at $874,395.42. This trade represents a 15.27% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 5,500 shares of company stock valued at $633,590 in the last ninety days. Corporate insiders own 1.40% of the company's stock.

Teleflex Company Profile

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.