Mission Wealth Management LP Lowers Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Mission Wealth Management LP cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,566 shares of the medical technology company’s stock after selling 212 shares during the quarter. Mission Wealth Management LP’s holdings in Teleflex were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI acquired a new position in Teleflex in the fourth quarter valued at $231,000. Mountain Pacific Investment Advisers Inc. ID increased its position in Teleflex by 1.1% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 78,958 shares of the medical technology company’s stock worth $19,687,000 after purchasing an additional 835 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Teleflex by 22.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,366 shares of the medical technology company’s stock valued at $341,000 after buying an additional 249 shares during the period. South Dakota Investment Council grew its stake in Teleflex by 18.2% during the fourth quarter. South Dakota Investment Council now owns 5,835 shares of the medical technology company’s stock worth $1,455,000 after buying an additional 900 shares during the period. Finally, Stock Yards Bank & Trust Co. acquired a new stake in shares of Teleflex in the fourth quarter worth $249,000. 95.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFX has been the subject of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada lowered their price objective on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Truist Financial decreased their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

Teleflex Price Performance

Shares of NYSE:TFX opened at $203.01 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $217.97 and its two-hundred day moving average is $226.02. The firm has a market capitalization of $9.56 billion, a P/E ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $262.97.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The firm had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. During the same quarter in the previous year, the business earned $3.09 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Teleflex Incorporated will post 13.73 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s payout ratio is 21.83%.

Insider Transactions at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction 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 in the company, valued at approximately $2,261,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by insiders.

Teleflex Company 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.