Quest Partners LLC Cuts Position in Teleflex Incorporated (NYSE:TFX)

Quest Partners LLC trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFXFree Report) by 42.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,146 shares of the medical technology company’s stock after selling 1,584 shares during the period. Quest Partners LLC’s holdings in Teleflex were worth $531,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after buying an additional 581,312 shares in the last quarter. Cooke & Bieler LP raised its position in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the last quarter. TD Asset Management Inc boosted its stake in Teleflex by 12.0% in the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after purchasing an additional 48,832 shares in the last quarter. Bank of New York Mellon Corp grew its position in Teleflex by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock valued at $89,526,000 after purchasing an additional 26,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Teleflex by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock valued at $83,741,000 after purchasing an additional 15,992 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TFX. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Stephens increased their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho reduced their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Get Our Latest Stock Report on Teleflex

Teleflex Stock Up 0.6 %

TFX stock opened at $191.71 on Friday. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 1.95 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The business’s 50-day moving average is $224.99 and its two-hundred day moving average is $222.73. Teleflex Incorporated has a fifty-two week low of $185.66 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFXGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.64 EPS. As a group, analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. Teleflex’s dividend payout ratio (DPR) is 27.04%.

About Teleflex

(Free Report)

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.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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