Insider Buying: Teleflex Incorporated (NYSE:TFX) Director Buys 1,500 Shares of Stock

Key Points

• Jaewon Ryu, a director at Teleflex Incorporated, purchased 1,500 shares at an average price of $115.00, increasing their total ownership by 67.36% to 3,727 shares.
• Teleflex reported an earnings per share (EPS) of $3.73 for the last quarter, exceeding analysts' expectations and showing a revenue growth of 4.2% compared to the previous year.
• The company announced a quarterly dividend of $0.34 per share, with a scheduled payment date of September 15th, which reflects a 1.2% dividend yield.

Teleflex Incorporated (NYSE:TFX - Get Free Report) Director Jaewon Ryu purchased 1,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $115.00 per share, with a total value of $172,500.00. Following the completion of the purchase, the director owned 3,727 shares in the company, valued at $428,605. The trade was a 67.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Teleflex Stock Down 0.7%

Shares of NYSE TFX traded down $0.85 during trading on Monday, hitting $117.57. The stock had a trading volume of 16,693 shares, compared to its average volume of 801,558. The company has a market capitalization of $5.20 billion, a PE ratio of 27.83, a PEG ratio of 1.65 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 debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44. The firm has a fifty day moving average of $118.09 and a two-hundred day moving average of $134.28.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 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 analyst estimates of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.42 earnings per share. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared 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 of this dividend is Friday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.2%. Teleflex's payout ratio is currently 32.00%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TFX shares. Wall Street Zen raised Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Morgan Stanley lowered their price target on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Truist Financial dropped their price objective on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada increased their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Teleflex currently has an average rating of "Hold" and a consensus target price of $141.57.

Hedge Funds Weigh In On Teleflex

Institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC acquired a new position in Teleflex in the second quarter valued at approximately $42,149,000. Dimensional Fund Advisors LP grew its stake in Teleflex by 69.5% during the first quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company's stock worth $119,927,000 after buying an additional 355,720 shares during the last quarter. Invesco Ltd. lifted its holdings in Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock valued at $190,188,000 after buying an additional 347,003 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Teleflex by 122.8% in the first quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock worth $80,784,000 after purchasing an additional 322,222 shares during the period. Finally, Invenomic Capital Management LP grew its position in Teleflex by 1,400.1% in the first quarter. Invenomic Capital Management LP now owns 344,732 shares of the medical technology company's stock valued at $47,639,000 after purchasing an additional 321,751 shares in the last quarter. Hedge funds and other institutional investors own 95.62% 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.