Wealth Enhancement Advisory Services LLC Cuts Stake in Teleflex Incorporated (NYSE:TFX)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Teleflex Incorporated (NYSE:TFX) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,156 shares of the medical technology company’s stock after selling 173 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Teleflex were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TFX. Net Worth Advisory Group boosted its position in Teleflex by 58.7% during the first quarter. Net Worth Advisory Group now owns 1,849 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 684 shares during the last quarter. Fifth Third Bancorp boosted its position in Teleflex by 7.6% during the first quarter. Fifth Third Bancorp now owns 4,142 shares of the medical technology company’s stock worth $572,000 after acquiring an additional 293 shares during the last quarter. Thompson Investment Management Inc. boosted its position in Teleflex by 45.8% during the first quarter. Thompson Investment Management Inc. now owns 4,870 shares of the medical technology company’s stock worth $673,000 after acquiring an additional 1,530 shares during the last quarter. CX Institutional acquired a new position in Teleflex during the first quarter worth about $105,000. Finally, SG Americas Securities LLC acquired a new position in Teleflex during the first quarter worth about $1,366,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TFX shares. Royal Bank Of Canada lowered their price target on shares of Teleflex from $150.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Mizuho set a $155.00 target price on shares of Teleflex in a report on Wednesday, April 16th. Wells Fargo & Company decreased their target price on shares of Teleflex from $146.00 to $137.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Finally, Truist Financial decreased their target price on shares of Teleflex from $140.00 to $137.00 and set a “hold” rating on the stock in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Teleflex currently has a consensus rating of “Hold” and a consensus target price of $164.63.

Teleflex Stock Performance

Shares of TFX stock opened at $119.90 on Monday. The firm has a market cap of $5.30 billion, a P/E ratio of 37.82, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28. The firm’s 50 day moving average price is $123.14 and its 200-day moving average price is $145.36. Teleflex Incorporated has a one year low of $115.94 and a one year high of $249.91.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The company had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. During the same period in the previous year, the company posted $3.21 EPS. Teleflex’s revenue was down 5.0% compared to the same quarter last year. As a group, equities research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, May 20th. Teleflex’s payout ratio is currently 42.90%.

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. 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.