Citigroup Inc. Cuts Stake in Teleflex Incorporated (NYSE:TFX)

Citigroup Inc. cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,156 shares of the medical technology company’s stock after selling 4,115 shares during the quarter. Citigroup Inc.’s holdings in Teleflex were worth $7,458,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Trust N.A. raised its position in Teleflex by 5.4% in the 3rd quarter. Raymond James Trust N.A. now owns 2,110 shares of the medical technology company’s stock worth $522,000 after purchasing an additional 108 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Teleflex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock worth $105,749,000 after buying an additional 1,884 shares during the period. Cypress Capital Group bought a new stake in shares of Teleflex in the 3rd quarter valued at about $223,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Teleflex by 37.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 42,251 shares of the medical technology company’s stock valued at $10,450,000 after acquiring an additional 11,553 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in Teleflex by 79.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,138 shares of the medical technology company’s stock worth $529,000 after acquiring an additional 948 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFX has been the subject of several recent research reports. Royal Bank of Canada lowered their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Mizuho dropped their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Truist Financial restated a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Performance

Teleflex stock opened at $192.85 on Friday. Teleflex Incorporated has a fifty-two week low of $185.66 and a fifty-two week high of $257.85. The stock’s 50 day simple moving average is $219.90 and its two-hundred day simple moving average is $222.41. 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 stock has a market cap of $8.96 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 1.96 and a beta of 1.18.

Teleflex (NYSE:TFX) last issued its quarterly earnings results 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 company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.64 earnings per share. As a group, analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.71%. Teleflex’s dividend payout ratio (DPR) is currently 27.04%.

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.