Envestnet Asset Management Inc. Sells 4,931 Shares of Teleflex Incorporated (NYSE:TFX)

Envestnet Asset Management Inc. lowered its stake in Teleflex Incorporated (NYSE:TFX) by 13.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,014 shares of the medical technology company’s stock after selling 4,931 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Teleflex worth $8,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TFX. First Horizon Advisors Inc. increased its stake in shares of Teleflex by 60.0% in the fourth quarter. First Horizon Advisors Inc. now owns 128 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Teleflex in the first quarter valued at approximately $37,000. Cullen Frost Bankers Inc. acquired a new position in shares of Teleflex in the first quarter valued at approximately $41,000. Carderock Capital Management Inc. acquired a new stake in Teleflex during the 1st quarter valued at approximately $49,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Teleflex by 526.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 213 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 179 shares during the period. Institutional investors own 97.15% of the company’s stock.

Teleflex Stock Up 0.8 %

Shares of TFX opened at $210.02 on Thursday. The company has a current ratio of 2.60, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. Teleflex Incorporated has a 12-month low of $182.65 and a 12-month high of $276.43. The business’s 50 day moving average is $234.21 and its 200 day moving average is $242.21. The company has a market capitalization of $9.87 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.27 and a beta of 1.03.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.20. Teleflex had a return on equity of 15.48% and a net margin of 12.71%. The business had revenue of $743.30 million for the quarter, compared to the consensus estimate of $729.87 million. During the same quarter in the previous year, the company posted $3.39 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Teleflex Incorporated will post 13.29 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, September 14th. Teleflex’s dividend payout ratio (DPR) is 17.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial cut their price target on Teleflex from $264.00 to $255.00 and set a “hold” rating on the stock in a report on Monday, August 7th. JMP Securities cut their target price on Teleflex from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Needham & Company LLC cut Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. CL King started coverage on Teleflex in a report on Tuesday, May 30th. They issued a “buy” rating and a $293.00 target price on the stock. Finally, Stephens increased their target price on Teleflex from $305.00 to $315.00 in a report on Thursday, July 27th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $268.92.

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. It 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.