Cerity Partners LLC Buys Shares of 13,175 Teleflex Incorporated (NYSE:TFX)

Cerity Partners LLC bought a new position in Teleflex Incorporated (NYSE:TFX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 13,175 shares of the medical technology company’s stock, valued at approximately $3,285,000.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its stake in Teleflex by 332.3% during the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 103 shares during the period. Venturi Wealth Management LLC acquired a new position in Teleflex in the third quarter valued at approximately $27,000. Covestor Ltd grew its position in Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Teleflex by 418.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after acquiring an additional 113 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Teleflex during the third quarter worth $39,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Insider Buying and Selling

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.43% of the company’s stock.

Teleflex Trading Down 0.9 %

TFX opened at $208.24 on Thursday. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $276.43. The business’s 50 day moving average is $227.28 and its two-hundred day moving average is $225.20. The company has a quick ratio of 1.29, a current ratio of 2.32 and a debt-to-equity ratio of 0.39.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.12. The firm had revenue of $773.90 million for the quarter, compared to analyst estimates of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $3.52 earnings per share. On average, research analysts predict that Teleflex Incorporated will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio (DPR) is presently 18.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TFX. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Royal Bank of Canada dropped their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Raymond James boosted their price target on shares of Teleflex from $227.00 to $271.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Truist Financial lowered their price objective on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.56.

About Teleflex

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.