Cinctive Capital Management LP Lowers Position in Teleflex Incorporated (NYSE:TFX)

Cinctive Capital Management LP trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 36.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,796 shares of the medical technology company’s stock after selling 11,393 shares during the period. Cinctive Capital Management LP’s holdings in Teleflex were worth $4,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cooke & Bieler LP boosted its position in Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares in the last quarter. TD Asset Management Inc lifted its position in Teleflex by 12.0% during the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after purchasing an additional 48,832 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Teleflex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock valued at $105,749,000 after purchasing an additional 1,884 shares during the last quarter. Bank of New York Mellon Corp grew its position in Teleflex by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after purchasing an additional 26,325 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Teleflex by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock worth $83,741,000 after purchasing an additional 15,992 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Trading Up 0.7 %

Shares of NYSE:TFX opened at $194.29 on Tuesday. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16. The business’s 50 day moving average price is $218.89 and its 200-day moving average price is $222.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a 1 year low of $185.66 and a 1 year high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the prior year, the firm earned $3.64 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio is presently 27.04%.

Analysts Set New Price Targets

A number of analysts have recently commented on TFX shares. Truist Financial restated a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Mizuho lowered their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada cut their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

Teleflex 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.