Teleflex Incorporated (NYSE:TFX) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 66.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,102 shares of the medical technology company's stock after selling 494,147 shares during the quarter. Millennium Management LLC owned approximately 0.54% of Teleflex worth $44,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its stake in Teleflex by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock valued at $1,098,693,000 after purchasing an additional 261,279 shares during the last quarter. Geode Capital Management LLC grew its position in Teleflex by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company's stock valued at $202,161,000 after acquiring an additional 8,307 shares during the period. Cooke & Bieler LP grew its position in Teleflex by 22.1% during the fourth quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company's stock valued at $191,962,000 after acquiring an additional 195,150 shares during the period. Invesco Ltd. grew its position in Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock valued at $190,188,000 after acquiring an additional 347,003 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Teleflex by 38.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company's stock valued at $105,102,000 after acquiring an additional 162,950 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Up 0.0%

Shares of NYSE TFX traded up $0.01 on Friday, hitting $120.95. The company had a trading volume of 504,858 shares, compared to its average volume of 634,351. Teleflex Incorporated has a 12-month low of $119.08 and a 12-month high of $249.91. The business has a 50 day moving average of $131.43 and a two-hundred day moving average of $160.11. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $5.34 billion, a P/E ratio of 24.05, a PEG ratio of 1.73 and a beta of 1.17.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.88 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The company's revenue was down 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, May 20th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, May 20th. Teleflex's dividend payout ratio (DPR) is 42.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America downgraded Teleflex from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. Wall Street Zen downgraded Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Mizuho set a $155.00 price target on Teleflex in a research report on Wednesday, April 16th. Raymond James downgraded Teleflex from an "outperform" rating to a "market perform" rating in a research report on Friday, February 28th. Finally, Truist Financial decreased their target price on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Teleflex has an average rating of "Hold" and an average target price of $164.63.

Teleflex Profile

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.