Retirement Systems of Alabama Sells 92 Shares of Teleflex Incorporated (NYSE:TFX)

Retirement Systems of Alabama cut its stake in shares of Teleflex Incorporated (NYSE:TFX) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,298 shares of the medical technology company’s stock after selling 92 shares during the period. Retirement Systems of Alabama’s holdings in Teleflex were worth $2,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TFX. Point72 Asset Management L.P. grew its position in shares of 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 worth $65,304,000 after buying an additional 263,743 shares during the period. Cooke & Bieler LP grew its holdings 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 during the period. Janus Henderson Group PLC increased its stake in Teleflex by 2.8% in the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock valued at $1,329,704,000 after purchasing an additional 147,147 shares in the last quarter. FMR LLC raised its holdings in Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock worth $66,650,000 after purchasing an additional 111,086 shares during the period. Finally, National Bank of Canada FI raised its holdings in Teleflex by 1,008.2% in the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock worth $24,388,000 after purchasing an additional 104,935 shares during the period. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Up 1.9 %

Shares of Teleflex stock opened at $178.16 on Friday. The firm has a market cap of $8.27 billion, a PE ratio of 35.42, a P/E/G ratio of 1.84 and a beta of 1.16. The business’s 50 day simple moving average is $202.44 and its 200 day simple moving average is $219.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a 52-week low of $171.69 and a 52-week high of $256.85.

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

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.76%. Teleflex’s dividend payout ratio is 27.04%.

Analysts Set New Price Targets

TFX has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Mizuho decreased their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Royal Bank of Canada dropped their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $252.50.

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.