Moore Capital Management LP Invests $4.87 Million in Teleflex Incorporated (NYSE:TFX)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Teleflex in the 4th quarter worth about $29,000. Avior Wealth Management LLC lifted its stake in Teleflex by 81.2% in the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock worth $50,000 after purchasing an additional 125 shares in the last quarter. IFP Advisors Inc raised its position in shares of Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after buying an additional 217 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock worth $61,000 after purchasing an additional 94 shares during the period. Finally, R Squared Ltd bought a new stake in Teleflex in the 4th quarter worth $64,000. Institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

TFX stock traded up $2.66 during trading hours on Friday, hitting $129.15. 542,769 shares of the stock traded hands, compared to its average volume of 638,696. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a one year low of $120.06 and a one year high of $249.91. The company has a market cap of $5.71 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.73 and a beta of 1.17. The stock has a 50-day simple moving average of $132.83 and a 200 day simple moving average of $162.37.

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

Teleflex Dividend Announcement

The company 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 is currently 42.90%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TFX. Truist Financial dropped their price objective 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. Wells Fargo & Company decreased their price target 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. Bank of America downgraded shares of Teleflex from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $235.00 to $140.00 in a research note on Tuesday, March 4th. StockNews.com cut shares of Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Citizens Jmp lowered shares of Teleflex from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $164.63.

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.