Retirement Systems of Alabama Sells 269 Shares of Teleflex Incorporated (NYSE:TFX)

Retirement Systems of Alabama reduced its stake in Teleflex Incorporated (NYSE:TFX) by 2.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,357 shares of the medical technology company’s stock after selling 269 shares during the period. Retirement Systems of Alabama’s holdings in Teleflex were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its stake in Teleflex by 33.3% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company’s stock worth $46,000 after purchasing an additional 46 shares during the period. Huntington National Bank grew its stake in Teleflex by 26.5% during the third quarter. Huntington National Bank now owns 253 shares of the medical technology company’s stock valued at $50,000 after acquiring an additional 53 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Teleflex by 1.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,767 shares of the medical technology company’s stock worth $740,000 after acquiring an additional 56 shares during the period. Lindbrook Capital LLC increased its holdings in Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 58 shares during the period. Finally, Wahed Invest LLC lifted its stake in Teleflex by 10.4% in the 3rd quarter. Wahed Invest LLC now owns 733 shares of the medical technology company’s stock worth $144,000 after purchasing an additional 69 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Stock Performance

NYSE:TFX opened at $201.52 on Wednesday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year 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. The business has a 50 day moving average of $216.24 and a 200 day moving average of $226.77. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.95 and a beta of 1.13.

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

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid 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 dividend payout ratio (DPR) is currently 21.83%.

Insider Transactions at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TFX shares. Truist Financial decreased their price target on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Royal Bank of Canada decreased their price objective on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Four equities research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

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.