Cinctive Capital Management LP Reduces Position in Teleflex Incorporated (NYSE:TFX)

Cinctive Capital Management LP trimmed its holdings in Teleflex Incorporated (NYSE:TFX) by 36.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,796 shares of the medical technology company’s stock after selling 11,393 shares during the quarter. Cinctive Capital Management LP’s holdings in Teleflex were worth $4,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TFX. Cromwell Holdings LLC boosted its position in shares of Teleflex by 59.0% during the 3rd 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 boosted its holdings in 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 last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Teleflex in the 3rd quarter valued at approximately $40,000. True Wealth Design LLC increased its holdings in shares of Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after buying an additional 166 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Teleflex during the 2nd quarter valued at approximately $42,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Up 0.7 %

Shares of TFX opened at $194.29 on Tuesday. The company’s 50-day simple moving average is $218.89 and its 200-day simple moving average is $222.26. 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 1 year low of $185.66 and a 1 year high of $257.85. The stock has a market capitalization of $9.02 billion, a PE ratio of 38.63, a P/E/G ratio of 1.97 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its 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 company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.64 EPS. Analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TFX shares. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Truist Financial reissued a “hold” rating and set a $227.00 price objective (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Royal Bank of Canada decreased their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho dropped their price target 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. Finally, StockNews.com raised shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.25.

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.