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

Retirement Systems of Alabama cut its position in Teleflex Incorporated (NYSE:TFX) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 have also added to or reduced their stakes in TFX. Cromwell Holdings LLC lifted its stake in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 49 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Teleflex in the 3rd quarter valued at about $40,000. True Wealth Design LLC grew its holdings in Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares during the period. Finally, GAMMA Investing LLC increased its position in Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TFX. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial decreased their price objective on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a report on Wednesday. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Mizuho decreased their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $252.50.

Teleflex Trading Up 1.9 %

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

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 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 previous year, the firm posted $3.64 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

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

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.