Meeder Asset Management Inc. Takes $1.09 Million Position in Teleflex Incorporated (NYSE:TFX)

Meeder Asset Management Inc. acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,145 shares of the medical technology company’s stock, valued at approximately $1,094,000.

A number of other institutional investors also recently added to or reduced their stakes in TFX. True Wealth Design LLC boosted its holdings 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 buying an additional 166 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. IFP Advisors Inc increased its position in shares of Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after purchasing an additional 217 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Teleflex by 38.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock valued at $61,000 after purchasing an additional 94 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Teleflex during the 4th quarter worth $64,000. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

NYSE TFX opened at $137.76 on Monday. The firm has a market capitalization of $6.39 billion, a P/E ratio of 27.39, a PEG ratio of 1.73 and a beta of 1.21. The stock has a 50-day simple moving average of $159.20 and a two-hundred day simple moving average of $189.98. 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 $128.55 and a fifty-two week high of $249.91.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.03. The company had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, equities analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were given a dividend of $0.34 per share. The ex-dividend date was Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 0.99%. Teleflex’s dividend payout ratio is presently 95.77%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TFX shares. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Raymond James downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Truist Financial lowered their price target on Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.