Moore Capital Management LP Purchases New Stake in Teleflex Incorporated (NYSE:TFX)

Moore Capital Management LP bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,351 shares of the medical technology company's stock, valued at approximately $4,868,000. Moore Capital Management LP owned 0.06% of Teleflex at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Teleflex during the fourth quarter worth $100,328,000. Invesco Ltd. boosted its holdings in Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock worth $190,188,000 after buying an additional 347,003 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Teleflex during the fourth quarter worth about $46,696,000. T. Rowe Price Investment Management Inc. grew its stake in Teleflex by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock valued at $1,098,693,000 after acquiring an additional 261,279 shares during the last quarter. Finally, Magnetar Financial LLC increased its stake in shares of Teleflex by 105.2% during the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company's stock worth $74,990,000 after purchasing an additional 215,961 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Stock Performance

TFX stock traded up $2.66 during midday trading on Friday, reaching $129.15. The company had a trading volume of 542,769 shares, compared to its average volume of 637,712. Teleflex Incorporated has a fifty-two week low of $120.06 and a fifty-two week high of $249.91. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $133.03 and a 200 day moving average price of $163.88. The firm has a market capitalization of $5.71 billion, a PE ratio of 25.67, a P/E/G ratio of 1.73 and a beta of 1.17.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.88 by $0.03. The business had revenue of $700.67 million during the quarter, compared to analyst estimates of $699.37 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company's quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.05%. Teleflex's dividend payout ratio (DPR) is 42.90%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley dropped their price objective 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 reduced their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company dropped their price objective on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Royal Bank of Canada dropped their price objective on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, StockNews.com lowered shares of Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Teleflex currently has an average rating of "Hold" and a consensus target price of $164.63.

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.