Voloridge Investment Management LLC Purchases New Stake in Teleflex Incorporated (NYSE:TFX)

Voloridge Investment Management LLC acquired a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 32,068 shares of the medical technology company's stock, valued at approximately $5,707,000. Voloridge Investment Management LLC owned 0.07% of Teleflex as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Teleflex in the 4th quarter valued at approximately $29,000. True Wealth Design LLC grew its position in shares of Teleflex by 62.3% in the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock valued at $48,000 after purchasing an additional 104 shares during the period. Avior Wealth Management LLC grew its position in shares of Teleflex by 81.2% in the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock valued at $50,000 after purchasing an additional 125 shares during the period. IFP Advisors Inc grew its position in shares of Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after purchasing an additional 217 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after purchasing an additional 94 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Wall Street Zen downgraded Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Piper Sandler reaffirmed a "neutral" rating and set a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Finally, Truist Financial reduced their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Teleflex currently has an average rating of "Hold" and an average target price of $164.63.

Teleflex Stock Down 0.3%

Shares of Teleflex stock traded down $0.34 on Friday, reaching $122.19. 683,821 shares of the company were exchanged, compared to its average volume of 627,422. Teleflex Incorporated has a one year low of $119.08 and a one year high of $249.91. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.73 and a beta of 1.17. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $129.59 and a 200 day moving average of $157.23.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. During the same quarter in the prior year, the business posted $3.21 EPS. The business's revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, May 20th. Teleflex's dividend payout ratio is currently 42.90%.

Teleflex 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.