Cerity Partners LLC Invests $3.29 Million in Teleflex Incorporated (NYSE:TFX)

Cerity Partners LLC acquired a new position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,175 shares of the medical technology company's stock, valued at approximately $3,285,000.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP increased its stake in shares of Teleflex by 332.3% during the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company's stock worth $26,000 after purchasing an additional 103 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Teleflex during the 3rd quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company's stock worth $35,000 after purchasing an additional 113 shares in the last quarter. Covestor Ltd increased its stake in shares of Teleflex by 305.6% during the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Teleflex by 39.1% during the first quarter. First Horizon Advisors Inc. now owns 178 shares of the medical technology company's stock worth $45,000 after acquiring an additional 50 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Stock Down 0.4 %

Teleflex stock traded down $0.92 during midday trading on Thursday, hitting $207.38. 154,262 shares of the stock were exchanged, compared to its average volume of 256,980. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $276.43. The firm has a market cap of $9.77 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The company has a 50 day moving average price of $227.28 and a two-hundred day moving average price of $225.20.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.12. The firm had revenue of $773.90 million for the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.52 EPS. On average, sell-side analysts predict that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex's payout ratio is currently 18.06%.

Insider Transactions at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the sale, the vice president now owns 10,050 shares of the company's stock, valued at approximately $2,261,250. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TFX. Raymond James raised their target price on shares of Teleflex from $227.00 to $271.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 20th. Truist Financial reduced their target price on shares of Teleflex from $270.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Royal Bank of Canada reduced their target price on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. Finally, JMP Securities restated a "market outperform" rating and set a $285.00 target price on shares of Teleflex in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $265.56.

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.