Desjardins Global Asset Management Inc. Trims Holdings in Teleflex Incorporated (NYSE:TFX)

Desjardins Global Asset Management Inc. cut its stake in Teleflex Incorporated (NYSE:TFX) by 87.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 189 shares of the medical technology company’s stock after selling 1,316 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Teleflex were worth $47,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its position in shares of Teleflex by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,633,473 shares of the medical technology company’s stock valued at $2,155,174,000 after purchasing an additional 181,393 shares in the last quarter. Vanguard Group Inc. boosted its stake in Teleflex by 1.7% during the first quarter. Vanguard Group Inc. now owns 5,147,062 shares of the medical technology company’s stock valued at $1,826,333,000 after buying an additional 83,858 shares during the period. BlackRock Inc. boosted its stake in Teleflex by 0.3% during the first quarter. BlackRock Inc. now owns 3,982,749 shares of the medical technology company’s stock valued at $1,008,870,000 after buying an additional 13,204 shares during the period. Morgan Stanley boosted its stake in Teleflex by 535.8% during the fourth quarter. Morgan Stanley now owns 2,691,192 shares of the medical technology company’s stock valued at $671,803,000 after buying an additional 2,267,889 shares during the period. Finally, State Street Corp boosted its stake in Teleflex by 2.0% during the first quarter. State Street Corp now owns 2,328,957 shares of the medical technology company’s stock valued at $589,948,000 after buying an additional 44,583 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Trading Down 0.4 %

TFX opened at $206.56 on Friday. The business has a 50 day simple moving average of $225.49 and a two-hundred day simple moving average of $225.15. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. Teleflex Incorporated has a one year low of $177.63 and a one year high of $276.43.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The business had revenue of $773.90 million during the quarter, compared to analyst estimates of $769.01 million. During the same quarter in the prior year, the company posted $3.52 EPS. Teleflex’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Teleflex Incorporated will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio is currently 18.06%.

Analysts Set New Price Targets

TFX has been the subject of several research analyst reports. Truist Financial dropped their price objective on Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Royal Bank of Canada decreased their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Transactions at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the transaction, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

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.