Corient Private Wealth LLC Trims Stake in Teleflex Incorporated (NYSE:TFX)

Corient Private Wealth LLC cut its position in shares of Teleflex Incorporated (NYSE:TFX) by 64.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,450 shares of the medical technology company’s stock after selling 4,355 shares during the period. Corient Private Wealth LLC’s holdings in Teleflex were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its stake in shares of Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after buying an additional 166 shares during the period. Avior Wealth Management LLC grew its holdings in Teleflex by 81.2% during the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 125 shares in the last quarter. IFP Advisors Inc increased its position in Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after purchasing an additional 217 shares during the period. Exchange Traded Concepts LLC raised 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 valued at $61,000 after purchasing an additional 94 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Teleflex in the 4th quarter worth approximately $64,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Price Performance

Shares of TFX stock opened at $137.76 on Friday. Teleflex Incorporated has a fifty-two week low of $128.55 and a fifty-two week high of $249.91. 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 firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.73 and a beta of 1.21. The stock’s 50-day simple moving average is $159.20 and its 200-day simple moving average is $190.36.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. As a group, equities analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TFX shares. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Finally, Royal Bank of Canada lowered shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $220.00 to $155.00 in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.63.

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.