First Trust Direct Indexing L.P. Lowers Stake in Teleflex Incorporated (NYSE:TFX)

First Trust Direct Indexing L.P. decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 13.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,181 shares of the medical technology company’s stock after selling 184 shares during the period. First Trust Direct Indexing L.P.’s holdings in Teleflex were worth $294,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 103 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Teleflex during the third quarter worth about $27,000. Covestor Ltd boosted its stake in Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Teleflex by 75.3% in the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after buying an additional 58 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock valued at $35,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Trading Up 0.3 %

NYSE:TFX opened at $201.52 on Wednesday. The business’s 50-day moving average is $216.24 and its two-hundred day moving average is $226.77. The firm has a market capitalization of $9.49 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $262.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.09 earnings per share. Research analysts predict that Teleflex Incorporated will post 13.72 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex’s payout ratio is currently 21.83%.

Analysts Set New Price Targets

Several research firms recently issued reports on TFX. Truist Financial decreased their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Royal Bank of Canada dropped their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and issued a $285.00 target price on shares of Teleflex in a report on Friday, February 23rd. Finally, StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.75.

Insider Activity

In related news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction 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 sale, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.43% of the company’s stock.

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.