Vestcor Inc Acquires 2,639 Shares of Teleflex Incorporated (NYSE:TFX)

Vestcor Inc increased its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 406.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,288 shares of the medical technology company's stock after acquiring an additional 2,639 shares during the quarter. Vestcor Inc's holdings in Teleflex were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Teleflex in the 1st quarter worth about $1,242,000. Amalgamated Bank boosted its stake in Teleflex by 56.9% in the 1st quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock worth $1,941,000 after purchasing an additional 5,095 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Teleflex by 13.9% in the 1st quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock worth $6,227,000 after purchasing an additional 5,482 shares in the last quarter. Brown Advisory Inc. boosted its stake in Teleflex by 34.2% in the 1st quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock worth $349,000 after purchasing an additional 643 shares in the last quarter. Finally, CX Institutional bought a new position in Teleflex in the 1st quarter worth about $105,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Price Performance

NYSE TFX opened at $115.87 on Monday. Teleflex Incorporated has a one year low of $108.90 and a one year high of $249.90. The stock has a 50-day moving average of $118.73 and a 200 day moving average of $136.58. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.44 and a current ratio of 2.41.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results 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 return on equity of 15.08% and a net margin of 6.31%. The company had revenue of $780.90 million for the quarter, compared to the consensus estimate of $771.53 million. During the same quarter in the prior year, the company earned $3.42 earnings per share. Teleflex's revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 1.2%. Teleflex's dividend payout ratio is currently 32.00%.

Analyst Upgrades and Downgrades

TFX has been the topic of a number of analyst reports. Mizuho upped their price target on shares of Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday. Wall Street Zen upgraded shares of Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Wells Fargo & Company dropped their price target on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Friday. Truist Financial dropped 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, Morgan Stanley dropped their price target on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Teleflex currently has an average rating of "Hold" and an average price target of $141.57.

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.

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