Edgestream Partners L.P. Decreases Stake in Teleflex Incorporated $TFX

Edgestream Partners L.P. lessened its holdings in Teleflex Incorporated (NYSE:TFX) by 94.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,103 shares of the medical technology company’s stock after selling 38,226 shares during the period. Edgestream Partners L.P.’s holdings in Teleflex were worth $252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Banque Cantonale Vaudoise boosted its position in Teleflex by 82.5% in the fourth quarter. Banque Cantonale Vaudoise now owns 250 shares of the medical technology company’s stock worth $31,000 after purchasing an additional 113 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Teleflex during the 4th quarter valued at $37,000. UMB Bank n.a. raised its stake in shares of Teleflex by 57.1% during the 4th quarter. UMB Bank n.a. now owns 311 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 113 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Teleflex during the 4th quarter worth $45,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Teleflex in the 4th quarter worth about $45,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Stock Down 2.1%

TFX opened at $137.18 on Thursday. The firm has a market capitalization of $6.07 billion, a P/E ratio of -6.02, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81. Teleflex Incorporated has a one year low of $100.18 and a one year high of $144.19. The company has a fifty day moving average price of $131.41 and a 200-day moving average price of $122.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.55 and a quick ratio of 2.03.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, May 7th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. Teleflex had a positive return on equity of 13.29% and a negative net margin of 35.88%.The company had revenue of $548.30 million during the quarter, compared to analyst estimates of $536.91 million. During the same quarter last year, the company earned $1.44 earnings per share. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. Equities research analysts expect that Teleflex Incorporated will post 6.7 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, May 25th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.36 annualized dividend and a dividend yield of 1.0%. Teleflex’s dividend payout ratio (DPR) is presently -5.96%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group began coverage on shares of Teleflex in a report on Tuesday, July 28th. They set a “neutral” rating and a $145.00 price objective for the company. Wall Street Zen lowered shares of Teleflex from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Bank of America upgraded Teleflex from an “underperform” rating to a “neutral” rating and set a $135.00 price objective on the stock in a research note on Monday, April 13th. BMO Capital Markets started coverage on Teleflex in a report on Wednesday, July 8th. They set an “outperform” rating and a $159.00 price objective for the company. Finally, Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $140.00 to $160.00 in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Teleflex presently has an average rating of “Hold” and an average price target of $148.90.

About Teleflex

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company’s offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.