Crossmark Global Holdings Inc. Decreases Stock Position in Teleflex Incorporated (NYSE:TFX)

Crossmark Global Holdings Inc. cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 12.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,424 shares of the medical technology company’s stock after selling 355 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Teleflex were worth $600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cromwell Holdings LLC lifted its position in Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after buying an additional 49 shares in the last quarter. GAMMA Investing LLC increased its position in Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Teleflex during the second quarter worth about $42,000. Versant Capital Management Inc raised its stake in Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Teleflex by 78.2% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 93 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Performance

Shares of Teleflex stock opened at $192.15 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The business has a 50-day moving average of $231.39 and a 200 day moving average of $223.30. Teleflex Incorporated has a 12 month low of $189.95 and a 12 month high of $257.85.

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 firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.64 earnings per share. As a group, sell-side analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.71%. Teleflex’s payout ratio is 27.04%.

Analysts Set New Price Targets

Several research firms have recently commented on TFX. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Royal Bank of Canada reduced their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Mizuho decreased their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $259.25.

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.