NFJ Investment Group LLC Trims Position in Teleflex Incorporated (NYSE:TFX)

NFJ Investment Group LLC trimmed its position in Teleflex Incorporated (NYSE:TFX) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,915 shares of the medical technology company’s stock after selling 3,780 shares during the period. Teleflex comprises 1.4% of NFJ Investment Group LLC’s portfolio, making the stock its 13th biggest holding. NFJ Investment Group LLC owned about 0.40% of Teleflex worth $46,228,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in Teleflex by 564.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after buying an additional 263,743 shares in the last quarter. Cooke & Bieler LP grew its stake 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 acquiring an additional 172,335 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after purchasing an additional 147,147 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Teleflex during the 2nd quarter valued at about $25,550,000. Finally, FMR LLC grew its position in shares of Teleflex by 70.1% during the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock valued at $66,650,000 after purchasing an additional 111,086 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Teleflex Trading Down 2.9 %

Teleflex stock traded down $5.71 during midday trading on Tuesday, reaching $188.60. The stock had a trading volume of 109,704 shares, compared to its average volume of 381,284. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16. Teleflex Incorporated has a 52-week low of $185.27 and a 52-week high of $257.85. The company has a fifty day moving average of $218.89 and a 200 day moving average of $222.26.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is presently 27.04%.

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.