Allstate Corp Takes $253,000 Position in Teleflex Incorporated (NYSE:TFX)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of TFX. Avior Wealth Management LLC lifted its holdings in Teleflex by 81.2% during the 4th 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 last quarter. IFP Advisors Inc lifted its stake in 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 during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Teleflex by 38.2% in the fourth 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 in the last quarter. R Squared Ltd purchased a new position in Teleflex in the fourth quarter valued at approximately $64,000. Finally, Quarry LP raised its holdings in Teleflex by 71.5% during the third quarter. Quarry LP now owns 391 shares of the medical technology company’s stock worth $97,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TFX. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Raymond James cut Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Wells Fargo & Company decreased their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $182.63.

Teleflex Trading Up 0.6 %

NYSE:TFX opened at $141.13 on Thursday. Teleflex Incorporated has a 12-month low of $128.55 and a 12-month high of $249.91. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $156.70 and its 200-day simple moving average is $188.17. The firm has a market cap of $6.54 billion, a P/E ratio of 28.06, a PEG ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping 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 analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

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

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.