Cerity Partners LLC Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Cerity Partners LLC lowered its holdings in Teleflex Incorporated (NYSE:TFX) by 47.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,907 shares of the medical technology company’s stock after selling 7,915 shares during the period. Cerity Partners LLC’s holdings in Teleflex were worth $1,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its holdings in Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock worth $1,098,693,000 after purchasing an additional 261,279 shares in the last quarter. Geode Capital Management LLC raised its position in Teleflex by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company’s stock worth $202,161,000 after acquiring an additional 8,307 shares in the last quarter. Invesco Ltd. boosted its position in shares of Teleflex by 48.1% during the 4th quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock valued at $190,188,000 after purchasing an additional 347,003 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Teleflex by 38.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company’s stock worth $105,102,000 after buying an additional 162,950 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Teleflex during the 4th quarter valued at $100,328,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Up 4.7%

Shares of Teleflex stock opened at $114.96 on Wednesday. The company has a market capitalization of $5.08 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32. The business has a 50-day moving average of $120.71 and a two-hundred day moving average of $140.99. Teleflex Incorporated has a 1 year low of $108.90 and a 1 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The firm had revenue of $700.67 million during the quarter, compared to analysts’ expectations of $699.37 million. During the same quarter in the prior year, the company earned $3.21 EPS. The company’s revenue was down 5.0% on a year-over-year basis. As a group, equities 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 issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Tuesday, May 20th. Teleflex’s payout ratio is presently 42.90%.

Analysts Set New Price Targets

TFX has been the subject of several research reports. Wall Street Zen lowered Teleflex from a “buy” rating to a “hold” rating in a report on Sunday, June 29th. Morgan Stanley lowered their price target on Teleflex from $191.00 to $173.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Mizuho dropped their price target on Teleflex from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $130.00 price objective on shares of Teleflex and gave the company a “sector perform” rating in a research report on Tuesday, July 15th. Finally, Truist Financial decreased their price objective on 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $159.63.

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.