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

NFJ Investment Group LLC decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,915 shares of the medical technology company’s stock after selling 3,780 shares during the quarter. Teleflex makes up 1.4% of NFJ Investment Group LLC’s holdings, making the stock its 13th largest holding. NFJ Investment Group LLC’s holdings in Teleflex were worth $46,228,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in shares of Teleflex by 1.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock valued at $846,000 after buying an additional 46 shares in the last quarter. Cromwell Holdings LLC increased its stake in Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after buying an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Teleflex by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock valued at $584,000 after acquiring an additional 53 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Teleflex by 3.7% in the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after acquiring an additional 55 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Teleflex by 0.3% during the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

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

Teleflex Stock Down 2.9 %

Shares of Teleflex stock traded down $5.71 on Tuesday, reaching $188.60. 109,704 shares of the company were exchanged, compared to its average volume of 381,284. The stock’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 $185.27 and a 1-year high of $257.85. The company has a market cap of $8.76 billion, a P/E ratio of 38.63, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share 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 business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same period last year, the business earned $3.64 EPS. The company’s revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.72%. Teleflex’s dividend payout ratio is currently 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.