Xponance Inc. Trims Stock Position in Teleflex Incorporated (NYSE:TFX)

Xponance Inc. reduced its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 63.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,281 shares of the medical technology company's stock after selling 3,943 shares during the quarter. Xponance Inc.'s holdings in Teleflex were worth $315,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TFX. Norges Bank acquired a new stake in Teleflex in the fourth quarter valued at approximately $100,328,000. Invesco Ltd. increased its position in Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock worth $190,188,000 after acquiring an additional 347,003 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock worth $1,098,693,000 after acquiring an additional 261,279 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Teleflex by 38.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company's stock valued at $105,102,000 after buying an additional 162,950 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Teleflex by 229.9% in the 1st quarter. Principal Financial Group Inc. now owns 230,522 shares of the medical technology company's stock valued at $31,856,000 after purchasing an additional 160,646 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TFX. Mizuho lowered their price target on Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday. Wall Street Zen downgraded Teleflex from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Truist Financial cut their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. Wells Fargo & Company cut their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley cut their price target on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Teleflex has a consensus rating of "Hold" and an average target price of $159.63.

Teleflex Stock Performance

NYSE:TFX traded down $2.41 during mid-day trading on Friday, hitting $111.18. 845,808 shares of the company traded hands, compared to its average volume of 639,227. The stock's fifty day moving average price is $120.71 and its 200-day moving average price is $141.26. Teleflex Incorporated has a one year low of $110.83 and a one year high of $249.91. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The company had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. During the same period in the previous year, the business earned $3.21 earnings per share. The firm's revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.36 annualized dividend and a yield of 1.22%. Teleflex's dividend payout ratio (DPR) is currently 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.