Cornerstone Investment Partners LLC Invests $243,000 in Teleflex Incorporated (NYSE:TFX)

Cornerstone Investment Partners LLC purchased a new position in shares of Teleflex Incorporated (NYSE:TFX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 973 shares of the medical technology company’s stock, valued at approximately $243,000.

Several other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Teleflex by 2.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,633,473 shares of the medical technology company’s stock worth $2,155,174,000 after purchasing an additional 181,393 shares during the last quarter. Vanguard Group Inc. grew its stake in Teleflex by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,147,062 shares of the medical technology company’s stock valued at $1,826,333,000 after buying an additional 83,858 shares in the last quarter. BlackRock Inc. grew its stake in Teleflex by 0.3% in the 1st quarter. BlackRock Inc. now owns 3,982,749 shares of the medical technology company’s stock valued at $1,008,870,000 after buying an additional 13,204 shares in the last quarter. Morgan Stanley grew its stake in Teleflex by 535.8% in the 4th quarter. Morgan Stanley now owns 2,691,192 shares of the medical technology company’s stock valued at $671,803,000 after buying an additional 2,267,889 shares in the last quarter. Finally, State Street Corp grew its stake in Teleflex by 2.0% in the 1st quarter. State Street Corp now owns 2,328,957 shares of the medical technology company’s stock valued at $589,948,000 after buying an additional 44,583 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of NYSE TFX traded down $1.37 during mid-day trading on Friday, reaching $206.01. 73,727 shares of the company were exchanged, compared to its average volume of 254,449. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $276.43. The company has a quick ratio of 1.29, a current ratio of 2.32 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $9.70 billion, a PE ratio of 27.54, a PEG ratio of 1.99 and a beta of 1.11. The company’s 50 day moving average price is $226.40 and its 200 day moving average price is $225.08.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $769.01 million. During the same period in the previous year, the firm posted $3.52 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed 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. 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 Transactions at Teleflex

In other Teleflex 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 value of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares of the company’s stock, valued at $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TFX has been the subject of a number of recent research reports. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Truist Financial reduced 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 reduced 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, JMP Securities reissued a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex currently has a consensus 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.