Corebridge Financial Inc. Decreases Stock Position in Teleflex Incorporated (NYSE:TFX)

Corebridge Financial Inc. decreased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 6.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,997 shares of the medical technology company’s stock after selling 702 shares during the period. Corebridge Financial Inc.’s holdings in Teleflex were worth $1,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TFX. Avior Wealth Management LLC boosted its stake in Teleflex by 81.2% in the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after purchasing an additional 125 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after buying an additional 217 shares during the period. Exchange Traded Concepts LLC increased its position 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 acquiring an additional 94 shares during the period. R Squared Ltd purchased a new position in Teleflex in the 4th quarter worth $64,000. Finally, Quarry LP lifted its position in Teleflex by 71.5% during the 3rd quarter. Quarry LP now owns 391 shares of the medical technology company’s stock worth $97,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of Teleflex stock opened at $140.12 on Wednesday. The firm has a market cap of $6.50 billion, a PE ratio of 27.86, a P/E/G ratio of 1.73 and a beta of 1.21. Teleflex Incorporated has a twelve month low of $128.55 and a twelve month high of $249.91. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $157.48 and a 200 day moving average price of $188.50.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Sell-side analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were given a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. Teleflex’s dividend payout ratio (DPR) is 95.77%.

Wall Street Analyst Weigh In

TFX has been the subject of several research analyst reports. Truist Financial reduced their price objective on Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Morgan Stanley decreased their price objective on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company cut their price objective on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $220.00 to $155.00 in a research report on Friday, February 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $140.00 price target (down from $255.00) on shares of Teleflex in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Teleflex presently has an average rating of “Hold” and a consensus price target of $182.63.

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.