Cresset Asset Management LLC Sells 5,188 Shares of Teleflex Incorporated (NYSE:TFX)

Cresset Asset Management LLC reduced its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 80.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270 shares of the medical technology company's stock after selling 5,188 shares during the period. Cresset Asset Management LLC's holdings in Teleflex were worth $226,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its position in Teleflex by 0.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,320 shares of the medical technology company's stock valued at $3,614,000 after purchasing an additional 74 shares in the last quarter. Hengehold Capital Management LLC grew its position in Teleflex by 7.3% during the fourth quarter. Hengehold Capital Management LLC now owns 1,289 shares of the medical technology company's stock valued at $229,000 after purchasing an additional 88 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Teleflex by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after acquiring an additional 94 shares during the last quarter. Isthmus Partners LLC lifted its stake in Teleflex by 7.3% in the fourth quarter. Isthmus Partners LLC now owns 1,535 shares of the medical technology company's stock valued at $273,000 after acquiring an additional 105 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Teleflex by 2.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,991 shares of the medical technology company's stock valued at $888,000 after acquiring an additional 118 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFX has been the subject of a number of analyst reports. Bank of America cut shares of Teleflex from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $235.00 to $140.00 in a research note on Tuesday, March 4th. Morgan Stanley reduced their target price 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. Mizuho set a $155.00 target price on shares of Teleflex in a research note on Wednesday, April 16th. Royal Bank of Canada reduced their target price on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $164.63.

Teleflex Stock Performance

Shares of Teleflex stock traded down $4.90 on Wednesday, reaching $121.96. The stock had a trading volume of 391,172 shares, compared to its average volume of 635,930. Teleflex Incorporated has a fifty-two week low of $120.06 and a fifty-two week high of $249.91. The business's 50-day moving average price is $132.50 and its two-hundred day moving average price is $161.54. The stock has a market cap of $5.39 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42.

Teleflex (NYSE:TFX - Get Free Report) last announced 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 net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $700.67 million for the quarter, compared to analyst estimates of $699.37 million. During the same quarter in the previous year, the firm posted $3.21 earnings per share. Teleflex's revenue was down 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, May 20th. Teleflex's dividend payout ratio (DPR) 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.