Isthmus Partners LLC Invests $354,000 in Teleflex Incorporated (NYSE:TFX)

Isthmus Partners LLC purchased a new position in Teleflex Incorporated (NYSE:TFX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,430 shares of the medical technology company’s stock, valued at approximately $354,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cromwell Holdings LLC boosted its stake in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after buying an additional 49 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after buying an additional 101 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Teleflex in the 3rd quarter worth $40,000. GAMMA Investing LLC boosted its stake in shares of Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Teleflex in the 2nd quarter worth $42,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Price Performance

NYSE:TFX opened at $193.08 on Friday. 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 business’s 50-day simple moving average is $219.90 and its two-hundred day simple moving average is $222.34. The stock has a market cap of $8.97 billion, a PE ratio of 38.39, a P/E/G ratio of 1.96 and a beta of 1.18. Teleflex Incorporated has a 52 week low of $185.66 and a 52 week high of $257.85.

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

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. Teleflex’s dividend payout ratio is presently 27.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Stephens lifted their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reiterated a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Mizuho lowered their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Royal Bank of Canada lowered their target price on Teleflex from $275.00 to $245.00 and set an “outperform” 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

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.