Parkman Healthcare Partners LLC Purchases Shares of 96,144 Teleflex Incorporated (NYSE:TFX)

Parkman Healthcare Partners LLC bought a new position in Teleflex Incorporated (NYSE:TFX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 96,144 shares of the medical technology company’s stock, valued at approximately $23,778,000. Teleflex makes up 3.0% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 6th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFX. Janus Henderson Group PLC grew its position in Teleflex by 2.8% in the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after acquiring an additional 147,147 shares in the last quarter. Cooke & Bieler LP raised its holdings in Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after buying an additional 172,335 shares in the last quarter. TD Asset Management Inc lifted its holdings in Teleflex by 12.0% in the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after purchasing an additional 48,832 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Teleflex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock valued at $105,749,000 after buying an additional 1,884 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Teleflex by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after purchasing an additional 26,325 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

TFX has been the topic of several research reports. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Royal Bank of Canada reduced their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial reissued a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Finally, Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Trading Down 3.2 %

Shares of TFX stock opened at $188.13 on Wednesday. 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 firm has a 50 day moving average price of $217.73 and a two-hundred day moving average price of $222.05. Teleflex Incorporated has a 12-month low of $185.27 and a 12-month high of $257.85. The company has a market capitalization of $8.74 billion, a PE ratio of 37.40, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.11. The business had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.64 EPS. As a group, analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.72%. Teleflex’s dividend payout ratio is presently 27.04%.

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.