Quantinno Capital Management LP Sells 23,263 Shares of Teleflex Incorporated $TFX

Key Points

• Quantinno Capital Management reduced its Teleflex position by 30.2% in the first quarter, selling 23,263 shares and retaining 53,766 shares worth approximately $6.4 million. Institutional investors overall own 95.62% of the company.
• Analyst sentiment remains mixed, with an overall “Hold” consensus and an average price target of $148.90. Recent actions included upgrades from RBC and BMO, while Wall Street Zen downgraded the stock to “Sell.”
• Teleflex beat quarterly expectations, reporting $1.39 EPS versus the $1.21 consensus and revenue of $548.3 million, up 32.3% year over year. The company also declared a $0.34 quarterly dividend, representing a $1.36 annualized payout and roughly a 1.0% yield.

Quantinno Capital Management LP trimmed its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 30.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 53,766 shares of the medical technology company's stock after selling 23,263 shares during the quarter. Quantinno Capital Management LP owned 0.12% of Teleflex worth $6,431,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Banque Cantonale Vaudoise grew its holdings in shares of Teleflex by 82.5% during the 4th quarter. Banque Cantonale Vaudoise now owns 250 shares of the medical technology company's stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Teleflex in the fourth quarter worth $37,000. UMB Bank n.a. boosted its position in Teleflex by 57.1% during 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 purchased a new stake in Teleflex during the fourth quarter valued at about $45,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Teleflex during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Teleflex in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $159.00 target price for the company. Royal Bank Of Canada upgraded Teleflex from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $135.00 to $155.00 in a research report on Friday, May 8th. Mizuho lifted their price target on Teleflex from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Wall Street Zen downgraded Teleflex from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Truist Financial reissued a "hold" rating and set a $143.00 price objective (up from $135.00) on shares of Teleflex in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $148.90.

Teleflex Stock Performance

Teleflex stock opened at $137.18 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.03 and a debt-to-equity ratio of 0.82. The firm has a market cap of $6.07 billion, a P/E ratio of -6.02, a P/E/G ratio of 1.04 and a beta of 0.81. Teleflex Incorporated has a 1-year low of $100.18 and a 1-year high of $144.19. The firm has a 50-day moving average of $131.41 and a 200-day moving average of $122.20.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $548.30 million for the quarter, compared to the consensus estimate of $536.91 million. Teleflex had a positive return on equity of 13.29% and a negative net margin of 35.88%.Teleflex's revenue was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. Sell-side analysts expect that Teleflex Incorporated will post 6.7 EPS for the current 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 $0.34 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.36 annualized dividend and a yield of 1.0%. Teleflex's payout ratio is -5.96%.

Teleflex Company 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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