Pallas Capital Advisors LLC Cuts Position in Teleflex Incorporated (NYSE:TFX)

Pallas Capital Advisors LLC trimmed its position in shares of Teleflex Incorporated (NYSE:TFX) by 48.9% during the 3rd quarter, Holdings Channel reports. The fund owned 1,843 shares of the medical technology company’s stock after selling 1,766 shares during the period. Pallas Capital Advisors LLC’s holdings in Teleflex were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFX. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teleflex during the first quarter valued at $2,467,000. ProShare Advisors LLC grew its position in Teleflex by 34.1% in the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock worth $2,759,000 after acquiring an additional 3,105 shares in the last quarter. Tidal Investments LLC increased its stake in Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after acquiring an additional 4,533 shares during the last quarter. Boston Trust Walden Corp raised its position in Teleflex by 2.7% during the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock valued at $49,199,000 after purchasing an additional 6,076 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Teleflex by 15.8% in the 1st quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after purchasing an additional 2,570 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Performance

Shares of NYSE:TFX opened at $201.02 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The firm has a market cap of $9.47 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16. The firm’s 50 day simple moving average is $240.17 and its 200-day simple moving average is $223.92. Teleflex Incorporated has a one year low of $178.83 and a one year high of $257.85.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.09. The business had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.41 EPS. As a group, equities analysts predict that Teleflex Incorporated will post 13.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TFX. Truist Financial boosted their target price on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Stephens increased their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $268.86.

Insider Buying and Selling

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.43% of the stock is owned by insiders.

About Teleflex

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.