United Services Automobile Association Invests $373,000 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 purchased a new position in Teleflex Incorporated (NYSE:TFX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,704 shares of the medical technology company's stock, valued at approximately $373,000.

Several other hedge funds have also recently modified their holdings of the business. Sepio Capital LP lifted its position in shares of Teleflex by 83.1% in the 1st quarter. Sepio Capital LP now owns 6,687 shares of the medical technology company's stock worth $924,000 after purchasing an additional 3,034 shares during the period. Millennium Management LLC lifted its position in shares of Teleflex by 57.8% in the 1st quarter. Millennium Management LLC now owns 394,633 shares of the medical technology company's stock worth $54,534,000 after purchasing an additional 144,531 shares during the period. Invenomic Capital Management LP lifted its position in shares of Teleflex by 1,400.1% in the 1st quarter. Invenomic Capital Management LP now owns 344,732 shares of the medical technology company's stock worth $47,639,000 after purchasing an additional 321,751 shares during the period. AQR Capital Management LLC lifted its position in shares of Teleflex by 7.4% in the 1st quarter. AQR Capital Management LLC now owns 292,523 shares of the medical technology company's stock worth $39,924,000 after purchasing an additional 20,225 shares during the period. Finally, Calton & Associates Inc. purchased a new stake in shares of Teleflex in the 1st quarter worth approximately $361,000. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TFX shares. Mizuho increased their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Royal Bank Of Canada increased their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Teleflex from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 7th. Finally, Wells Fargo & Company decreased their target price on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $141.57.

Insider Transactions at Teleflex

In other Teleflex news, Director Jaewon Ryu acquired 1,500 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $115.00 per share, for a total transaction of $172,500.00. Following the completion of the purchase, the director directly owned 3,727 shares of the company's stock, valued at $428,605. The trade was a 67.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen R. Haggerty acquired 500 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $114.75 per share, for a total transaction of $57,375.00. Following the purchase, the director directly owned 6,305 shares of the company's stock, valued at approximately $723,498.75. This trade represents a 8.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,500 shares of company stock valued at $633,590. 1.40% of the stock is owned by corporate insiders.

Teleflex Stock Performance

Teleflex stock traded down $2.03 during mid-day trading on Friday, reaching $130.47. 712,975 shares of the company traded hands, compared to its average volume of 578,877. 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 fifty-two week low of $108.90 and a fifty-two week high of $249.90. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.08. The firm's fifty day moving average is $120.97 and its two-hundred day moving average is $125.99.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) 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 business had revenue of $780.90 million for the quarter, compared to analyst estimates of $771.53 million. During the same quarter in the prior year, the business posted $3.42 EPS. Teleflex's revenue for the quarter was up 4.2% compared to the same quarter last year. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. On average, equities research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm 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. The ex-dividend date is Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.0%. Teleflex's dividend payout ratio is presently 32.00%.

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.