Sequoia Financial Advisors LLC Makes New $1.72 Million Investment in Teleflex Incorporated (NYSE:TFX)

Sequoia Financial Advisors LLC acquired a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,910 shares of the medical technology company's stock, valued at approximately $1,723,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in Teleflex by 0.9% during the first quarter. Commonwealth Equity Services LLC now owns 4,688 shares of the medical technology company's stock worth $1,187,000 after buying an additional 42 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Teleflex by 33.3% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company's stock worth $46,000 after buying an additional 46 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Teleflex by 3.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,411 shares of the medical technology company's stock worth $284,000 after buying an additional 48 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Teleflex by 39.1% during the first quarter. First Horizon Advisors Inc. now owns 178 shares of the medical technology company's stock worth $45,000 after buying an additional 50 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in Teleflex by 26.5% during the third quarter. Huntington National Bank now owns 253 shares of the medical technology company's stock worth $50,000 after buying an additional 53 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TFX has been the subject of a number of research reports. StockNews.com cut shares of Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Truist Financial decreased their price objective on shares of Teleflex from $270.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, February 23rd. Royal Bank of Canada decreased their price objective on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. Finally, Raymond James raised their price objective on shares of Teleflex from $227.00 to $271.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 20th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $265.56.

Insider Activity

In other news, VP Cameron P. Hicks sold 7,401 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is owned by insiders.

Teleflex Stock Down 1.4 %

TFX stock traded down $2.98 during midday trading on Friday, reaching $214.44. The company had a trading volume of 189,485 shares, compared to its average volume of 272,451. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $276.43. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $10.10 billion, a P/E ratio of 28.48, a PEG ratio of 2.08 and a beta of 1.11. The company has a 50 day moving average of $229.64 and a two-hundred day moving average of $224.94.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.12. The business had revenue of $773.90 million for the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. Teleflex's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.52 EPS. On average, equities research analysts expect that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.63%. Teleflex's dividend payout ratio is currently 18.06%.

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.