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

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

Several other large investors have also made changes to their positions in TFX. Morgan Stanley raised its holdings 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 acquiring an additional 2,267,889 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Teleflex by 50.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,833,777 shares of the medical technology company’s stock valued at $464,515,000 after purchasing an additional 612,019 shares during the period. Norges Bank bought a new stake in shares of Teleflex in the 4th quarter valued at approximately $104,344,000. LGT Capital Partners LTD. grew its stake in shares of Teleflex by 285.4% in the 4th quarter. LGT Capital Partners LTD. now owns 257,864 shares of the medical technology company’s stock valued at $64,296,000 after purchasing an additional 190,950 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Teleflex by 2.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,633,473 shares of the medical technology company’s stock valued at $2,155,174,000 after purchasing an additional 181,393 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TFX. Truist Financial lowered their price objective on Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada decreased their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Buying and Selling

In related news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by company insiders.

Teleflex Trading Down 0.7 %

Shares of TFX stock traded down $1.37 during trading hours on Friday, reaching $206.01. The company had a trading volume of 73,727 shares, compared to its average volume of 254,449. The company has a 50 day moving average of $226.40 and a 200 day moving average of $225.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 1.99 and a beta of 1.11. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $276.43.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. The company had revenue of $773.90 million for the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.52 EPS. On average, equities research analysts anticipate that Teleflex Incorporated will post 13.73 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex’s payout ratio is presently 18.06%.

About Teleflex

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.