Edgestream Partners L.P. Sells 38,226 Shares of Teleflex Incorporated $TFX

Key Points

• Edgestream Partners L.P. cut its Teleflex stake by 94.8%, selling 38,226 shares and retaining 2,103 shares worth approximately $252,000. Institutional investors collectively own 95.62% of the company.
• Analyst sentiment is mixed, with ratings ranging from Sell to Strong Buy; the overall consensus is Hold, with an average price target of $148.90 versus the reported share price of $137.18.
• Teleflex reported quarterly earnings of $1.39 per share, beating estimates of $1.21, while revenue rose 32.3% year over year to $548.3 million. The company also maintains a quarterly dividend of $0.34 per share, representing a 1.0% annualized yield.

Edgestream Partners L.P. lowered its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 94.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,103 shares of the medical technology company's stock after selling 38,226 shares during the period. Edgestream Partners L.P.'s holdings in Teleflex were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise increased its position in shares of Teleflex by 82.5% during the fourth quarter. Banque Cantonale Vaudoise now owns 250 shares of the medical technology company's stock worth $31,000 after buying an additional 113 shares during the period. V Square Quantitative Management LLC acquired a new position in Teleflex in the fourth quarter valued at $37,000. UMB Bank n.a. lifted its holdings in Teleflex by 57.1% in the fourth quarter. UMB Bank n.a. now owns 311 shares of the medical technology company's stock valued at $38,000 after buying an additional 113 shares during the period. Sound Income Strategies LLC bought a new stake in Teleflex during the fourth quarter valued at $45,000. Finally, Kestra Advisory Services LLC bought a new stake in Teleflex during the fourth quarter valued at $45,000. 95.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Teleflex from $130.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Weiss Ratings restated a "sell (d)" rating on shares of Teleflex in a research report on Wednesday, June 24th. Royal Bank Of Canada raised Teleflex from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $135.00 to $155.00 in a research note on Friday, May 8th. Wall Street Zen downgraded Teleflex from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, BMO Capital Markets began coverage on Teleflex in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $159.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $148.90.

Teleflex Trading Down 2.1%

TFX opened at $137.18 on Thursday. Teleflex Incorporated has a fifty-two week low of $100.18 and a fifty-two week high of $144.19. The firm has a market capitalization of $6.07 billion, a PE ratio of -6.02, a P/E/G ratio of 1.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.55 and a quick ratio of 2.03. The company's 50-day moving average is $131.41 and its 200 day moving average is $122.20.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. The firm had revenue of $548.30 million during the quarter, compared to analyst estimates of $536.91 million. Teleflex had a positive return on equity of 13.29% and a negative net margin of 35.88%.The company's revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. As a group, research analysts predict that Teleflex Incorporated will post 6.7 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 25th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.36 annualized dividend and a yield of 1.0%. Teleflex's dividend payout ratio is -5.96%.

Teleflex Profile

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company's offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.

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