Retirement Systems of Alabama Has $2.58 Million Position in Teleflex Incorporated (NYSE:TFX)

Retirement Systems of Alabama cut its stake in Teleflex Incorporated (NYSE:TFX) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,357 shares of the medical technology company’s stock after selling 269 shares during the quarter. Retirement Systems of Alabama’s holdings in Teleflex were worth $2,582,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP lifted its position in Teleflex by 332.3% during the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 103 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Teleflex by 75.3% in the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Venturi Wealth Management LLC acquired a new position in Teleflex in the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its position in Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after buying an additional 113 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Teleflex by 305.6% during the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Insider Transactions at Teleflex

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

Teleflex Price Performance

Shares of TFX stock opened at $201.52 on Wednesday. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $262.97. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $216.24 and a 200 day simple moving average of $226.77. The company has a market cap of $9.49 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.95 and a beta of 1.13.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.14. The firm had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.09 earnings per share. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.72 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex’s payout ratio is presently 21.83%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Truist Financial cut their price target on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada lowered their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

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.