Costello Asset Management INC Acquires New Position in Teleflex Incorporated (NYSE:TFX)

Costello Asset Management INC acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 206 shares of the medical technology company’s stock, valued at approximately $28,000.

A number of other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Teleflex by 12.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the medical technology company’s stock valued at $2,460,000 after buying an additional 1,952 shares during the last quarter. Alberta Investment Management Corp grew its position in Teleflex by 112.4% in the 1st quarter. Alberta Investment Management Corp now owns 24,000 shares of the medical technology company’s stock worth $3,317,000 after purchasing an additional 12,700 shares during the last quarter. US Bancorp DE grew its position in Teleflex by 8.0% in the 1st quarter. US Bancorp DE now owns 6,440 shares of the medical technology company’s stock worth $890,000 after purchasing an additional 475 shares during the last quarter. Goodman Financial Corp grew its position in Teleflex by 1.8% in the 1st quarter. Goodman Financial Corp now owns 76,495 shares of the medical technology company’s stock worth $10,571,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Teleflex by 60.6% in the 1st quarter. Natixis Advisors LLC now owns 21,160 shares of the medical technology company’s stock worth $2,924,000 after purchasing an additional 7,982 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Down 2.2%

TFX stock opened at $112.30 on Thursday. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90. The firm has a market cap of $4.96 billion, a PE ratio of 26.42, a P/E/G ratio of 1.60 and a beta of 1.08. The firm has a 50 day simple moving average of $118.48 and a 200 day simple moving average of $135.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.36 by $0.37. The business had revenue of $780.90 million during the quarter, compared to the consensus estimate of $771.53 million. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.42 EPS. Equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 15th. Teleflex’s dividend payout ratio is 32.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Royal Bank Of Canada increased their price objective on shares of Teleflex from $130.00 to $135.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Teleflex from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Truist Financial decreased their price objective on shares of Teleflex from $140.00 to $137.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Mizuho increased their price objective on shares of Teleflex from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.57.

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.