Victory Capital Management Inc. Trims Holdings in Teleflex Incorporated (NYSE:TFX)

Key Points

• Victory Capital Management Inc. reduced its stake in Teleflex Incorporated by 74.2%, owning 13,407 shares worth $1.85 million at the end of the first quarter.
• Teleflex's latest quarterly earnings report showed earnings per share of $2.91, exceeding expectations, but revenue was down 5.0% compared to the previous year.
• The company declared a quarterly dividend of $0.34 per share, with a current annualized dividend yield of 1.18%.

Victory Capital Management Inc. reduced its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 74.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,407 shares of the medical technology company's stock after selling 38,604 shares during the period. Victory Capital Management Inc.'s holdings in Teleflex were worth $1,853,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Teleflex by 38.3% in the 1st quarter. Signaturefd LLC now owns 433 shares of the medical technology company's stock worth $60,000 after buying an additional 120 shares in the last quarter. Aurora Investment Counsel boosted its position in shares of Teleflex by 4.4% in the 1st quarter. Aurora Investment Counsel now owns 14,625 shares of the medical technology company's stock worth $2,021,000 after buying an additional 612 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Teleflex by 47.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 4,764 shares of the medical technology company's stock worth $658,000 after buying an additional 1,540 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its position in shares of Teleflex by 20.6% in the 1st quarter. Speece Thorson Capital Group Inc. now owns 87,747 shares of the medical technology company's stock worth $12,126,000 after buying an additional 14,969 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Teleflex by 776.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the medical technology company's stock worth $3,026,000 after buying an additional 19,400 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TFX shares. Morgan Stanley decreased their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada boosted their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a research note on Friday. Wells Fargo & Company cut their target price on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research note on Friday. Truist Financial cut their target price 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. Finally, Mizuho boosted their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $160.13.

Teleflex Trading Down 3.0%

Shares of NYSE TFX traded down $3.63 on Friday, reaching $115.87. 642,835 shares of the company traded hands, compared to its average volume of 814,070. Teleflex Incorporated has a fifty-two week low of $108.90 and a fifty-two week high of $249.90. The company has a 50 day moving average of $118.83 and a 200 day moving average of $137.60. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $5.12 billion, a PE ratio of 36.55, a P/E/G ratio of 1.78 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.36 by $0.37. The firm had revenue of $780.90 million during the quarter, compared to analysts' expectations of $771.53 million. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. Teleflex's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.42 EPS. On average, 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid 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 is Friday, August 15th. Teleflex's dividend payout ratio is 42.90%.

About Teleflex

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.