Federated Hermes Inc. Cuts Position in Teleflex Incorporated (NYSE:TFX)

Federated Hermes Inc. cut its stake in Teleflex Incorporated (NYSE:TFX) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,009 shares of the medical technology company’s stock after selling 431 shares during the quarter. Federated Hermes Inc. owned about 0.13% of Teleflex worth $15,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP grew its stake in Teleflex by 332.3% during the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after buying an additional 103 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Teleflex during the 3rd quarter worth $27,000. Covestor Ltd grew its stake in Teleflex by 305.6% during the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after buying an additional 113 shares during the last quarter. Finally, ING Groep NV purchased a new position in Teleflex during the 3rd quarter worth $39,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TFX shares. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada dropped their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Truist Financial dropped their price target on Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

Insider Buying and Selling

In related news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the transaction, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is currently owned by company insiders.

Teleflex Price Performance

TFX stock opened at $207.27 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The business has a 50 day simple moving average of $224.58 and a 200-day simple moving average of $225.66. The firm has a market capitalization of $9.76 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $276.43.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. The business had revenue of $773.90 million during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $3.52 earnings per share. Equities research analysts anticipate that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

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

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.