Strs Ohio Cuts Stock Position in Teleflex Incorporated (NYSE:TFX)

Strs Ohio lessened its stake in Teleflex Incorporated (NYSE:TFX) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,537 shares of the medical technology company’s stock after selling 2,201 shares during the quarter. Strs Ohio owned approximately 0.05% of Teleflex worth $5,868,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFX. Allworth Financial LP increased its holdings in Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 103 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Teleflex in the 3rd quarter worth $27,000. Covestor Ltd increased its holdings in Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Teleflex by 418.5% during the fourth 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 in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Teleflex during the third quarter worth $39,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Trading Down 0.4 %

Shares of TFX stock opened at $207.38 on Friday. The company’s 50-day moving average price is $226.40 and its 200-day moving average price is $225.08. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.99 and a beta of 1.11. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $276.43.

Teleflex (NYSE:TFX) last posted its 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 net margin of 11.98% and a return on equity of 14.98%. The company had revenue of $773.90 million for the quarter, compared to analysts’ expectations of $769.01 million. During the same quarter in the prior year, the company posted $3.52 earnings per share. Teleflex’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Teleflex Incorporated will post 13.73 earnings per share for the current year.

Teleflex Dividend Announcement

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

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TFX shares. Truist Financial dropped their target price on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Royal Bank of Canada dropped their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $285.00 target price 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 given a buy rating to the stock. Based on data from MarketBeat, Teleflex has an average rating of “Moderate Buy” and an average target price of $267.50.

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.