Millennium Management LLC Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

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

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. Truist Financial reduced their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Citizens Jmp lowered shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Mizuho set a $155.00 price objective on shares of Teleflex in a research note on Wednesday, April 16th. Finally, Bank of America cut shares of Teleflex from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. 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 company. Based on data from MarketBeat.com, Teleflex presently has a consensus rating of "Hold" and a consensus target price of $164.63.

Teleflex Stock Down 0.7%

TFX stock traded down $0.83 during trading on Thursday, hitting $121.15. 207,319 shares of the stock traded hands, compared to its average volume of 634,295. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 24.09, 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 current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a 1 year low of $119.65 and a 1 year high of $249.91. The firm's 50 day moving average is $132.18 and its two-hundred day moving average is $161.27.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.03. The firm had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business's revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.21 earnings per share. On average, sell-side analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 is Tuesday, May 20th. Teleflex's dividend payout ratio is currently 42.90%.

Teleflex Company 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.