Louisiana State Employees Retirement System Takes Position in Teleflex Incorporated (NYSE:TFX)

Louisiana State Employees Retirement System acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,800 shares of the medical technology company’s stock, valued at approximately $698,000.

A number of other institutional investors have also added to or reduced their stakes in TFX. Exchange Traded Concepts LLC increased its position in Teleflex by 157.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 273 shares of the medical technology company’s stock worth $54,000 after purchasing an additional 167 shares in the last quarter. Czech National Bank increased its position in Teleflex by 47.7% during the 3rd quarter. Czech National Bank now owns 8,213 shares of the medical technology company’s stock worth $1,613,000 after purchasing an additional 2,653 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Teleflex by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,230 shares of the medical technology company’s stock worth $3,777,000 after purchasing an additional 60 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Teleflex by 1.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,208 shares of the medical technology company’s stock worth $2,398,000 after purchasing an additional 200 shares in the last quarter. Finally, Xponance Inc. increased its position in Teleflex by 5.1% during the 3rd quarter. Xponance Inc. now owns 6,780 shares of the medical technology company’s stock worth $1,332,000 after purchasing an additional 328 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Performance

NYSE:TFX opened at $206.71 on Friday. The firm’s fifty day moving average is $221.23 and its 200-day moving average is $225.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $276.43. The firm has a market cap of $9.74 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.98 and a beta of 1.11.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The company had revenue of $773.90 million for the quarter, compared to analyst estimates of $769.01 million. During the same period in the prior year, the firm posted $3.52 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Teleflex Incorporated will post 13.73 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex’s dividend payout ratio is currently 18.06%.

Insider Activity at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the business’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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TFX has been the subject of a number of research analyst reports. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a report on Friday, February 23rd. Royal Bank of Canada reduced their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Finally, Truist Financial reduced their target price on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

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.