1832 Asset Management LP Cuts Shares of Teleflex Incorporated (NYSE:TFX)

1832 Asset Management LP lessened its holdings in shares of Teleflex Incorporated (NYSE:TFX – Free Report) by 97.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the medical technology company’s stock after selling 42,418 shares during the quarter. 1832 Asset Management LP’s holdings in Teleflex were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TFX. US Bancorp DE boosted its stake in Teleflex by 69.7% in the fourth quarter. US Bancorp DE now owns 11,884 shares of the medical technology company’s stock worth $2,963,000 after purchasing an additional 4,881 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Teleflex in the 4th quarter valued at about $176,000. Nomura Asset Management Co. Ltd. increased its position in shares of Teleflex by 9.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 12,397 shares of the medical technology company’s stock valued at $3,091,000 after acquiring an additional 1,055 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Teleflex by 13.3% during the fourth quarter. Hsbc Holdings PLC now owns 83,474 shares of the medical technology company’s stock worth $20,795,000 after acquiring an additional 9,807 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Teleflex by 38.6% in the fourth quarter. Allianz Asset Management GmbH now owns 8,503 shares of the medical technology company’s stock worth $2,120,000 after purchasing an additional 2,370 shares during the period. 95.62% of shares are owned by institutional investors and hedge funds.

Insider trading at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Company insiders own 1.43% of the company’s shares.

Teleflex stock performance

Shares of NYSE TFX opened at $244.87 on Friday. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The company has a current ratio of 2.58, a quick ratio of 1.44, and a debt-to-equity ratio of 0.36. The company has a market cap of $11.54 billion, a PE ratio of 39.30, a P/E/G ratio of 2.23 and a beta of 1.16. The stock has a 50-day simple moving average of $236.48 and a 200-day simple moving average of $220.91.

Teleflex (NYSE:TFX – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. In the same quarter last year, the business posted earnings per share of $3.41. The company’s revenue for the quarter was up 0.9% compared to the same quarter last year. On average, equities research analysts forecast that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex dividend announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.34 dividend. This represents a dividend of $1.36 on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15. Teleflex’s dividend payout ratio is currently 21.83%.

Analysts on Wall Street are forecasting an increase

TFX has been the subject of a number of research reports. Truist Financial upped their target price on shares of Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $205.00 to $245.00 in a report on Monday, July 1st. Finally, Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57, according to MarketBeat.

Check out our latest research report on TFX

About Teleflex

(Free Report)

Teleflex Incorporated designs, develops, manufactures and supplies single-use medical devices for routine diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that include Arrow brand catheters, catheter navigation and tip positioning systems, and intraosseous access systems for administering intravenous therapies, measuring blood pressure, and collecting blood samples through a single puncture site.

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