Gateway Investment Advisers LLC Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Gateway Investment Advisers LLC trimmed its holdings in Teleflex Incorporated (NYSE:TFX) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,222 shares of the medical technology company’s stock after selling 177 shares during the period. Gateway Investment Advisers LLC’s holdings in Teleflex were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cromwell Holdings LLC boosted its holdings in shares of Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares during the period. Apollon Wealth Management LLC lifted its holdings in Teleflex by 3.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after purchasing an additional 55 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Teleflex by 0.3% in the 3rd quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after purchasing an additional 60 shares during the period. Janney Montgomery Scott LLC grew its holdings in Teleflex by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company’s stock valued at $3,792,000 after buying an additional 65 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Teleflex by 4.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company’s stock valued at $375,000 after buying an additional 66 shares during the period. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Up 0.1 %

TFX opened at $181.56 on Monday. 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’s fifty day simple moving average is $184.14 and its 200 day simple moving average is $215.49. Teleflex Incorporated has a 52 week low of $171.69 and a 52 week high of $256.85. The stock has a market cap of $8.43 billion, a PE ratio of 36.10, a P/E/G ratio of 1.64 and a beta of 1.16.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $3.64 EPS. As a group, research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.34 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.75%. Teleflex’s payout ratio is 27.04%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TFX. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Truist Financial decreased their target price on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.50.

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.