Desjardins Global Asset Management Inc. Sells 1,316 Shares of Teleflex Incorporated (NYSE:TFX)

Desjardins Global Asset Management Inc. lowered its stake in Teleflex Incorporated (NYSE:TFX) by 87.4% in the 4th quarter, HoldingsChannel reports. The fund owned 189 shares of the medical technology company’s stock after selling 1,316 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Teleflex were worth $47,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its position in Teleflex by 0.9% in the first quarter. Commonwealth Equity Services LLC now owns 4,688 shares of the medical technology company’s stock worth $1,187,000 after acquiring an additional 42 shares in the last quarter. Venturi Wealth Management LLC grew its position in Teleflex by 33.3% in the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company’s stock worth $46,000 after acquiring an additional 46 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Teleflex by 3.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,411 shares of the medical technology company’s stock worth $284,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. grew its position in Teleflex by 39.1% in the first quarter. First Horizon Advisors Inc. now owns 178 shares of the medical technology company’s stock worth $45,000 after acquiring an additional 50 shares in the last quarter. Finally, Huntington National Bank grew its position in Teleflex by 26.5% in the third quarter. Huntington National Bank now owns 253 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

TFX has been the subject of several recent analyst reports. Truist Financial dropped their target price on Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Finally, Royal Bank of Canada dropped their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company 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 stock. According to MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Teleflex Stock Performance

Teleflex stock opened at $206.56 on Friday. The company has a 50 day moving average price of $225.49 and a 200-day moving average price of $225.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $276.43. The company has a market capitalization of $9.73 billion, a PE ratio of 27.43, a P/E/G ratio of 1.99 and a beta of 1.11.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.12. The company had revenue of $773.90 million during the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. Teleflex’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.52 earnings per share. As a group, equities analysts forecast that Teleflex Incorporated will post 13.73 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex’s payout ratio is presently 18.06%.

Insider Transactions at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares of the company’s stock, valued at $2,261,250. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

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.