Corbyn Investment Management Inc. MD Reduces Stock Position in Teleflex Incorporated $TFX

Corbyn Investment Management Inc. MD reduced its stake in Teleflex Incorporated (NYSE:TFX) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,549 shares of the medical technology company’s stock after selling 2,215 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Teleflex were worth $2,077,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TFX. Pzena Investment Management LLC purchased a new position in Teleflex during the 2nd quarter valued at about $42,149,000. Dimensional Fund Advisors LP increased its holdings in Teleflex by 69.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company’s stock worth $119,927,000 after acquiring an additional 355,720 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Teleflex by 122.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company’s stock worth $80,784,000 after acquiring an additional 322,222 shares during the period. Invenomic Capital Management LP lifted its stake in Teleflex by 1,400.1% in the 1st quarter. Invenomic Capital Management LP now owns 344,732 shares of the medical technology company’s stock worth $47,639,000 after purchasing an additional 321,751 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in Teleflex by 14.0% in the 2nd quarter. Cooke & Bieler LP now owns 1,205,964 shares of the medical technology company’s stock valued at $142,738,000 after purchasing an additional 148,436 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TFX. Weiss Ratings reiterated a “sell (d+)” rating on shares of Teleflex in a research report on Wednesday, October 8th. Zacks Research lowered Teleflex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Truist Financial lowered their target price on shares of Teleflex from $128.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday. Mizuho lifted their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada lowered their price objective on shares of Teleflex from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Teleflex has an average rating of “Reduce” and an average price target of $134.57.

Teleflex Stock Up 3.8%

Shares of NYSE TFX opened at $112.05 on Wednesday. The stock has a market capitalization of $4.95 billion, a P/E ratio of 26.36, a PEG ratio of 1.79 and a beta of 1.05. Teleflex Incorporated has a one year low of $102.58 and a one year high of $200.15. The firm’s 50 day simple moving average is $124.99 and its two-hundred day simple moving average is $122.64. 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 announced its quarterly earnings data on Thursday, November 6th. The medical technology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.29. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. The company had revenue of $892.90 million during the quarter, compared to analysts’ expectations of $892.79 million. During the same quarter in the prior year, the company earned $3.49 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. Teleflex has set its FY 2025 guidance at 14.000-14.200 EPS. As a group, analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 14th will be issued a $0.34 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 1.2%. Teleflex’s payout ratio is currently -18.50%.

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.