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

Cresset Asset Management LLC reduced its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 80.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,270 shares of the medical technology company's stock after selling 5,188 shares during the quarter. Cresset Asset Management LLC's holdings in Teleflex were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TFX. Crestline Management LP bought a new position in Teleflex in the fourth quarter valued at approximately $330,000. Centiva Capital LP boosted its stake in Teleflex by 186.7% in the fourth quarter. Centiva Capital LP now owns 13,412 shares of the medical technology company's stock valued at $2,387,000 after acquiring an additional 8,734 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in Teleflex by 35.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 5,659 shares of the medical technology company's stock valued at $1,007,000 after acquiring an additional 1,495 shares during the last quarter. Captrust Financial Advisors raised its holdings in Teleflex by 4.2% in the fourth quarter. Captrust Financial Advisors now owns 4,217 shares of the medical technology company's stock worth $750,000 after purchasing an additional 169 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Teleflex by 46.3% in the fourth quarter. BNP Paribas Financial Markets now owns 94,389 shares of the medical technology company's stock worth $16,799,000 after purchasing an additional 29,891 shares during the period. 95.62% of the stock is owned by institutional investors.

Teleflex Stock Performance

Teleflex stock traded up $0.01 during trading hours on Friday, hitting $120.95. The company had a trading volume of 504,858 shares, compared to its average volume of 634,984. The firm has a 50-day moving average of $131.43 and a 200 day moving average of $159.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm has a market cap of $5.34 billion, a PE ratio of 24.05, a PEG ratio of 1.73 and a beta of 1.17. Teleflex Incorporated has a one year low of $119.08 and a one year high of $249.91.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.91 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 the consensus estimate of $699.37 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm's revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.21 earnings per share. On average, sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be issued a $0.34 dividend. 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 is currently 42.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TFX shares. Raymond James lowered shares of Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective 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. Truist Financial dropped their price objective 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. Bank of America lowered shares of Teleflex from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Finally, Wall Street Zen lowered shares of Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $164.63.

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.