Cerity Partners LLC decreased its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 47.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.
Several other large investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new position in Teleflex in the first quarter valued at $1,242,000. Amalgamated Bank grew its position in Teleflex by 56.9% in the first quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock valued at $1,941,000 after purchasing an additional 5,095 shares in the last quarter. New York State Teachers Retirement System grew its position in Teleflex by 13.9% in the first quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock valued at $6,227,000 after purchasing an additional 5,482 shares in the last quarter. Brown Advisory Inc. grew its position in Teleflex by 34.2% in the first quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock valued at $349,000 after purchasing an additional 643 shares in the last quarter. Finally, CX Institutional bought a new position in Teleflex in the first quarter valued at $105,000. Institutional investors own 95.62% of the company's stock.
Teleflex Price Performance
TFX stock traded up $1.05 during mid-day trading on Friday, hitting $117.25. The stock had a trading volume of 326,403 shares, compared to its average volume of 581,484. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. Teleflex Incorporated has a 52 week low of $108.90 and a 52 week high of $249.90. The firm has a market capitalization of $5.18 billion, a P/E ratio of 36.99, a P/E/G ratio of 1.84 and a beta of 1.08. The firm has a fifty day simple moving average of $119.49 and a 200 day simple moving average of $139.02.
Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.03. The company had revenue of $700.67 million for the quarter, compared to analyst estimates of $699.37 million. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The firm's revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 EPS. As a group, research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.
Teleflex Dividend Announcement
The business also recently declared 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 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Tuesday, May 20th. Teleflex's dividend payout ratio (DPR) is presently 42.90%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TFX. Morgan Stanley cut their price target on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada set a $130.00 price target on shares of Teleflex and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. Mizuho cut their target price on shares of Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Truist Financial cut their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Wall Street Zen cut shares of Teleflex from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. 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's stock. According to data from MarketBeat, Teleflex has an average rating of "Hold" and an average price target of $159.63.
Check Out Our Latest Stock Analysis on Teleflex
Teleflex Company Profile
(
Free Report)
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.
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