Frontier Capital Management Co. LLC Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Frontier Capital Management Co. LLC lowered its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 97.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,826 shares of the medical technology company's stock after selling 75,396 shares during the period. Frontier Capital Management Co. LLC's holdings in Teleflex were worth $325,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Teleflex in the fourth quarter valued at $29,000. Avior Wealth Management LLC boosted its stake in Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock valued at $50,000 after acquiring an additional 125 shares in the last quarter. IFP Advisors Inc boosted its stake in Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after acquiring an additional 217 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Teleflex by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after acquiring an additional 94 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Teleflex in the fourth quarter valued at $64,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Performance

NYSE TFX traded up $4.01 during trading hours on Monday, hitting $129.12. 567,603 shares of the stock were exchanged, compared to its average volume of 640,921. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. Teleflex Incorporated has a 12-month low of $120.06 and a 12-month high of $249.91. The stock has a 50-day moving average of $133.75 and a 200 day moving average of $165.18. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. The firm had revenue of $700.67 million during the quarter, compared to analysts' expectations of $699.37 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm's revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.21 earnings per share. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.05%. Teleflex's dividend payout ratio (DPR) is presently 42.90%.

Analysts Set New Price Targets

Several research firms have issued reports on TFX. Wells Fargo & Company decreased their price objective on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Bank of America downgraded shares of Teleflex from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $235.00 to $140.00 in a research note on Tuesday, March 4th. Royal Bank of Canada decreased their target price on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. StockNews.com downgraded shares of Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $164.63.

Teleflex Company 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.