Resona Asset Management Co. Ltd. Invests $2.47 Million in Teleflex Incorporated (NYSE:TFX)

Resona Asset Management Co. Ltd. purchased a new stake in Teleflex Incorporated (NYSE:TFX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,866 shares of the medical technology company’s stock, valued at approximately $2,471,000.

A number of other institutional investors also recently modified their holdings of TFX. Headlands Technologies LLC bought a new position in shares of Teleflex in the fourth quarter valued at $29,000. Avior Wealth Management LLC raised its position in Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 125 shares during the period. IFP Advisors Inc raised its position in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after purchasing an additional 217 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Teleflex by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock valued at $61,000 after purchasing an additional 94 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Teleflex in the fourth quarter valued at approximately $64,000. 95.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on TFX. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Truist Financial decreased their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Finally, Morgan Stanley decreased their price target on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $182.63.

Teleflex Stock Performance

Shares of NYSE TFX opened at $135.29 on Thursday. The firm’s 50-day moving average price is $149.82 and its 200-day moving average price is $183.14. 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 company has a market cap of $6.27 billion, a PE ratio of 26.90, a PEG ratio of 1.73 and a beta of 1.19. Teleflex Incorporated has a 52-week low of $124.66 and a 52-week high of $249.91.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $795.40 million for the quarter, compared to analysts’ expectations of $813.24 million. As a group, analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s payout ratio is 95.77%.

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.