LGT Capital Partners LTD. Sells 150,347 Shares of Teleflex Incorporated (NYSE:TFX)

Key Points

• LGT Capital Partners LTD. reduced its stake in Teleflex Incorporated by 98.5% in the first quarter, leaving it with only 2,310 shares after selling 150,347 shares.
• Teleflex reported a quarterly earnings per share (EPS) of $3.73, surpassing analyst expectations of $3.36, as revenue increased by 4.2% year-over-year.
• The company announced a quarterly dividend of $0.34 per share, with a dividend yield of 1.2%, set to be paid on September 15th.

LGT Capital Partners LTD. lessened its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 98.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,310 shares of the medical technology company's stock after selling 150,347 shares during the period. LGT Capital Partners LTD.'s holdings in Teleflex were worth $319,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Teleflex in the 1st quarter valued at $1,242,000. Amalgamated Bank raised its position in shares of Teleflex by 56.9% during the 1st quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock valued at $1,941,000 after purchasing an additional 5,095 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Teleflex by 13.9% in the first quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock worth $6,227,000 after purchasing an additional 5,482 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Teleflex by 34.2% during the first quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock valued at $349,000 after buying an additional 643 shares during the last quarter. Finally, CX Institutional purchased a new stake in Teleflex during the first quarter worth $105,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Performance

TFX stock traded up $1.36 during trading on Thursday, reaching $113.43. The company had a trading volume of 82,858 shares, compared to its average volume of 803,119. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.44 and a current ratio of 2.41. The firm has a 50-day simple moving average of $118.48 and a 200-day simple moving average of $135.98. Teleflex Incorporated has a twelve month low of $108.90 and a twelve month high of $249.90. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.36 by $0.37. The firm had revenue of $780.90 million during the quarter, compared to the consensus estimate of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned $3.42 earnings per share. As a group, sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. Teleflex's dividend payout ratio is presently 32.00%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial dropped their price target on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Mizuho raised their price objective on shares of Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Teleflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Morgan Stanley reduced their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $141.57.

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.