Mendota Financial Group LLC Acquires New Position in Teleflex Incorporated (NYSE:TFX)

Mendota Financial Group LLC purchased a new stake in shares of Teleflex Incorporated (NYSE:TFX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 698 shares of the medical technology company’s stock, valued at approximately $124,000.

A number of other hedge funds have also recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Teleflex by 564.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock worth $65,304,000 after purchasing an additional 263,743 shares during the period. Janus Henderson Group PLC grew its stake in shares of Teleflex by 2.8% during the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock valued at $1,329,704,000 after buying an additional 147,147 shares during the last quarter. FMR LLC increased its holdings in shares of Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock worth $66,650,000 after buying an additional 111,086 shares during the period. Kimelman & Baird LLC bought a new stake in shares of Teleflex in the 2nd quarter valued at about $21,232,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Teleflex by 457.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 120,311 shares of the medical technology company’s stock valued at $29,755,000 after acquiring an additional 98,735 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Performance

Teleflex stock opened at $178.84 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a fifty-two week low of $171.69 and a fifty-two week high of $256.85. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 1.84 and a beta of 1.16. The stock’s 50 day simple moving average is $185.76 and its two-hundred day simple moving average is $216.38.

Teleflex (NYSE:TFX) last announced its 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 firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.64 EPS. As a group, analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.76%. Teleflex’s payout ratio is 27.04%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TFX. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Truist Financial decreased their target price on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Mizuho dropped their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada lowered their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average price target of $252.50.

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.