Tower Research Capital LLC TRC Raises Stock Position in Teleflex Incorporated (NYSE:TFX)

Tower Research Capital LLC TRC lifted its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 198.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,449 shares of the medical technology company's stock after purchasing an additional 2,958 shares during the quarter. Tower Research Capital LLC TRC's holdings in Teleflex were worth $792,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Teleflex during the 4th quarter valued at about $29,000. Avior Wealth Management LLC lifted its position in Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock worth $50,000 after buying an additional 125 shares during the last quarter. IFP Advisors Inc raised its stake in shares of 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 during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock worth $61,000 after acquiring an additional 94 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Teleflex during the 4th quarter worth about $64,000. Institutional investors own 95.62% of the company's stock.

Teleflex Stock Down 7.5 %

Shares of TFX stock traded down $10.30 during trading hours on Thursday, reaching $126.75. 739,276 shares of the company's stock were exchanged, compared to its average volume of 636,460. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 1.73 and a beta of 1.19. Teleflex Incorporated has a fifty-two week low of $124.66 and a fifty-two week high of $249.91. The stock's 50 day moving average is $137.86 and its 200-day moving average is $172.30.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 1.07%. Teleflex's payout ratio is 95.77%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada lowered Teleflex from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $220.00 to $155.00 in a research report on Friday, February 28th. Truist Financial lowered their target price on Teleflex from $149.00 to $140.00 and set a "hold" rating for the company in a report on Friday, April 11th. Piper Sandler reiterated a "neutral" rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Raymond James cut shares of Teleflex from an "outperform" rating to a "market perform" rating in a research report on Friday, February 28th. Finally, Bank of America lowered shares of Teleflex from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $169.63.

Teleflex 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.