Allstate Corp Makes New $253,000 Investment in Teleflex Incorporated (NYSE:TFX)

Allstate Corp purchased a new stake in Teleflex Incorporated (NYSE:TFX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,421 shares of the medical technology company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC grew its position in Teleflex by 81.2% during the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after buying an additional 125 shares during the period. IFP Advisors Inc boosted its stake in shares of Teleflex by 238.5% during the 4th 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. Exchange Traded Concepts LLC grew its holdings in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock worth $61,000 after acquiring an additional 94 shares during the period. R Squared Ltd purchased a new position in Teleflex in the 4th quarter valued at approximately $64,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Teleflex during the fourth quarter worth $73,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Piper Sandler reissued a “neutral” rating and issued a $140.00 price objective (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Morgan Stanley cut their price target on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Finally, Royal Bank of Canada lowered Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $220.00 to $155.00 in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $182.63.

Teleflex Price Performance

Shares of NYSE:TFX opened at $141.13 on Thursday. The business has a fifty day simple moving average of $156.70 and a 200-day simple moving average of $188.17. Teleflex Incorporated has a 52 week low of $128.55 and a 52 week high of $249.91. The company has a market cap of $6.54 billion, a P/E ratio of 28.06, 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 posted its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Equities research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.96%. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

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.