Envestnet Asset Management Inc. Reduces Stake in Teleflex Incorporated (NYSE:TFX)

Envestnet Asset Management Inc. lowered its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,491 shares of the medical technology company's stock after selling 5,663 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Teleflex worth $6,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Teleflex during the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in Teleflex by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock valued at $32,000 after acquiring an additional 231 shares during the last quarter. True Wealth Design LLC boosted its holdings in Teleflex by 62.3% in the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock valued at $48,000 after acquiring an additional 104 shares during the last quarter. Finally, State of Wyoming bought a new stake in Teleflex in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Performance

NYSE:TFX traded up $1.05 during trading on Friday, reaching $117.25. The company's stock had a trading volume of 326,403 shares, compared to its average volume of 581,484. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28. The firm has a 50 day moving average of $119.49 and a 200-day moving average of $139.02. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.03. The company had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The firm's quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.21 EPS. Research analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.16%. Teleflex's payout ratio is 42.90%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TFX. Royal Bank Of Canada set a $130.00 price target on Teleflex and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. Morgan Stanley lowered their target price 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 lowered their price target on Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $159.63.

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.