Raymond James Financial Services Advisors Inc. Lowers Stock Position in Teleflex Incorporated (NYSE:TFX)

Raymond James Financial Services Advisors Inc. lessened its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 45.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,325 shares of the medical technology company’s stock after selling 3,624 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Teleflex were worth $1,078,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Raymond James & Associates lifted its position in shares of Teleflex by 10.5% during the fourth quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock worth $31,473,000 after purchasing an additional 11,943 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Teleflex by 6.0% during the fourth quarter. Raymond James Trust N.A. now owns 2,668 shares of the medical technology company’s stock worth $665,000 after purchasing an additional 150 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Teleflex by 38.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 2,403 shares of the medical technology company’s stock worth $599,000 after purchasing an additional 665 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Teleflex by 8.8% during the fourth quarter. Nordea Investment Management AB now owns 2,964 shares of the medical technology company’s stock worth $738,000 after purchasing an additional 239 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Teleflex by 7.2% during the fourth quarter. Fulton Bank N.A. now owns 1,191 shares of the medical technology company’s stock worth $297,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Down 1.4 %

TFX stock opened at $214.44 on Monday. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $276.43. The company’s 50 day moving average is $229.64 and its two-hundred day moving average is $225.14. The stock has a market cap of $10.10 billion, a P/E ratio of 28.48, a PEG ratio of 2.05 and a beta of 1.11.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The company had revenue of $773.90 million for the quarter, compared to analysts’ expectations of $769.01 million. During the same quarter last year, the company earned $3.52 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. Teleflex’s payout ratio is currently 18.06%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 target price on shares of Teleflex in a report on Friday, February 23rd. Raymond James raised their target price on shares of Teleflex from $227.00 to $271.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada reduced their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.56.

Insider Transactions at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.41% of the company’s stock.

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.