Cerity Partners LLC Invests $3.29 Million in Teleflex Incorporated (NYSE:TFX)

Cerity Partners LLC acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX) in the fourth quarter, HoldingsChannel reports. The fund acquired 13,175 shares of the medical technology company’s stock, valued at approximately $3,285,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in Teleflex during the 4th quarter worth $1,723,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Teleflex by 243.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock valued at $5,666,000 after acquiring an additional 16,110 shares during the period. International Assets Investment Management LLC grew its position in shares of Teleflex by 20,300.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,244 shares of the medical technology company’s stock worth $560,000 after acquiring an additional 2,233 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Teleflex by 6.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,912 shares of the medical technology company’s stock worth $2,970,000 after acquiring an additional 751 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Teleflex by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 227,888 shares of the medical technology company’s stock valued at $56,822,000 after purchasing an additional 34,100 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Down 0.9 %

TFX stock opened at $208.24 on Thursday. The firm has a market cap of $9.81 billion, a PE ratio of 27.65, a P/E/G ratio of 2.01 and a beta of 1.11. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $276.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $227.28 and a 200 day simple moving average of $225.20.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The company had revenue of $773.90 million for the quarter, compared to analyst estimates of $769.01 million. During the same period in the previous year, the firm earned $3.52 earnings per share. Teleflex’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s payout ratio is 18.06%.

Insider Transactions at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the company’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 value of $1,665,225.00. Following the completion of the sale, the vice president now owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Raymond James raised their target price on Teleflex from $227.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Royal Bank of Canada reduced their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Finally, Truist Financial reduced their price objective on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $265.56.

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.