Diamond Hill Capital Management Inc. Buys New Shares in Teleflex Incorporated (NYSE:TFX)

Diamond Hill Capital Management Inc. bought a new position in shares of Teleflex Incorporated (NYSE:TFX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 262,364 shares of the medical technology company’s stock, valued at approximately $46,696,000. Diamond Hill Capital Management Inc. owned approximately 0.56% of Teleflex as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in TFX. Avior Wealth Management LLC boosted its stake in shares of Teleflex by 190.6% during the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Teleflex during the third quarter valued at $40,000. True Wealth Design LLC boosted its position in shares of Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the period. Banque Cantonale Vaudoise increased its stake in Teleflex by 184.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company’s stock worth $56,000 after purchasing an additional 146 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Performance

TFX stock opened at $136.04 on Friday. The firm has a 50 day moving average of $167.87 and a two-hundred day moving average of $198.71. Teleflex Incorporated has a 12 month low of $128.55 and a 12 month high of $249.90. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.73 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. The business had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. As a group, equities analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, March 7th. Teleflex’s payout ratio is 95.77%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TFX. Piper Sandler restated a “neutral” rating and issued a $140.00 target price (down previously from $255.00) on shares of Teleflex in a report on Friday, February 28th. Bank of America lowered Teleflex from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Raymond James cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $182.63.

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.