AlphaQuest LLC Sells 407 Shares of Teleflex Incorporated (NYSE:TFX)

AlphaQuest LLC lessened its stake in shares of Teleflex Incorporated (NYSE:TFX) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,739 shares of the medical technology company’s stock after selling 407 shares during the quarter. AlphaQuest LLC’s holdings in Teleflex were worth $310,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Janus Henderson Group PLC grew its position in Teleflex by 2.8% during 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 acquiring an additional 147,147 shares during the last quarter. FMR LLC grew its holdings 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 worth $66,650,000 after purchasing an additional 111,086 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Teleflex by 31.2% during the third quarter. Point72 Asset Management L.P. now owns 407,442 shares of the medical technology company’s stock worth $100,768,000 after purchasing an additional 96,958 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Teleflex in the third quarter valued at approximately $23,778,000. Finally, Raymond James Financial Inc. bought a new position in Teleflex in the 4th quarter valued at approximately $10,342,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Performance

Shares of TFX stock opened at $137.79 on Friday. The firm has a 50 day moving average of $166.99 and a 200-day moving average of $197.99. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 52 week low of $128.55 and a 52 week high of $249.90.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. On average, equities analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 0.99%. Teleflex’s payout ratio is currently 95.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TFX shares. Piper Sandler reissued a “neutral” rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Morgan Stanley cut their target price on Teleflex from $275.00 to $191.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada cut Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $220.00 to $155.00 in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $182.63.

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.