Teleflex Incorporated $TFX Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management cut its Teleflex stake by 3.9%, selling 23,465 shares, but still held 579,741 shares valued at about $72.5 million. Institutional investors own 95.62% of the stock.
• Teleflex reported quarterly EPS of $1.76, beating estimates of $1.28, while revenue of $570.3 million exceeded forecasts and rose 28.9% year over year.
• Analysts have a “Moderate Buy” consensus and an average price target of $154.40; shares were reported up 7.0% and opened at $149.72.

Pzena Investment Management LLC trimmed its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 579,741 shares of the medical technology company's stock after selling 23,465 shares during the period. Pzena Investment Management LLC owned about 1.37% of Teleflex worth $72,491,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TFX. Next Level Wealth Planning LLC acquired a new stake in shares of Teleflex in the third quarter valued at approximately $38,000. State of Wyoming purchased a new position in shares of Teleflex during the 3rd quarter worth $269,000. NORTHSTAR ASSET MANAGEMENT Co acquired a new position in shares of Teleflex during the 3rd quarter valued at about $117,000. Root Financial Partners LLC acquired a new position in shares of Teleflex during the 3rd quarter valued at about $27,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Teleflex in the third quarter valued at about $296,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Stock Up 7.0%

Shares of NYSE:TFX opened at $149.72 on Thursday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of -6.43, a PEG ratio of 0.94 and a beta of 0.85. Teleflex Incorporated has a 12-month low of $100.18 and a 12-month high of $150.04. The business has a 50-day moving average price of $131.62 and a 200 day moving average price of $125.60. The company has a current ratio of 2.60, a quick ratio of 2.12 and a debt-to-equity ratio of 0.94.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, August 6th. The medical technology company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.48. The company had revenue of $570.33 million for the quarter, compared to analysts' expectations of $559.59 million. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. Teleflex's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.73 earnings per share. Sell-side analysts expect that Teleflex Incorporated will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

TFX has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Teleflex from $145.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. BMO Capital Markets assumed coverage on shares of Teleflex in a report on Wednesday, July 8th. They issued an "outperform" rating and a $159.00 target price on the stock. Truist Financial dropped their price target on shares of Teleflex from $150.00 to $142.00 and set a "hold" rating for the company in a research note on Wednesday, October 14th. Bank of America upgraded shares of Teleflex from a "neutral" rating to a "buy" rating and raised their price target for the stock from $145.00 to $158.00 in a report on Monday, September 28th. Finally, Zacks Research lowered shares of Teleflex from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Teleflex presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.40.

Teleflex Company Profile

Teleflex Incorporated is a global medical technology company that develops, manufactures and markets specialty medical devices. Its products are designed to support healthcare professionals in critical care and procedural settings, including vascular access, interventional cardiology and radiology, anesthesia, respiratory care, emergency medicine, surgical applications and urology.

The company's portfolio includes catheters, access and closure devices, airway-management products, surgical instruments, pain-management devices and other technologies used in hospitals and outpatient facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.