Mission Wealth Management LP Lowers Position in Teleflex Incorporated (NYSE:TFX)

Mission Wealth Management LP decreased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 11.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,566 shares of the medical technology company’s stock after selling 212 shares during the period. Mission Wealth Management LP’s holdings in Teleflex were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TFX. Venturi Wealth Management LLC grew its stake in Teleflex by 33.3% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company’s stock worth $46,000 after buying an additional 46 shares in the last quarter. Huntington National Bank increased its stake in Teleflex by 26.5% in the third quarter. Huntington National Bank now owns 253 shares of the medical technology company’s stock valued at $50,000 after acquiring an additional 53 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Teleflex by 1.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,767 shares of the medical technology company’s stock valued at $740,000 after purchasing an additional 56 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Teleflex by 75.3% during the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Teleflex by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,230 shares of the medical technology company’s stock worth $3,777,000 after purchasing an additional 60 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Royal Bank of Canada decreased their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a report on Friday, February 23rd. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Truist Financial decreased their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Teleflex currently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

Teleflex Stock Performance

TFX opened at $203.01 on Friday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $262.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.29. The firm has a market cap of $9.56 billion, a P/E ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. The company has a 50 day simple moving average of $217.97 and a two-hundred day simple moving average of $226.02.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The firm had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. During the same quarter last year, the business posted $3.09 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Insider Buying and Selling at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

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.