Cerity Partners LLC Boosts Holdings in Teleflex Incorporated (NYSE:TFX)

Cerity Partners LLC boosted its position in shares of Teleflex Incorporated (NYSE:TFX) by 25.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,822 shares of the medical technology company’s stock after purchasing an additional 3,448 shares during the quarter. Cerity Partners LLC’s holdings in Teleflex were worth $3,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Teleflex in the 4th quarter worth approximately $29,000. Avior Wealth Management LLC raised its stake in shares of Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after purchasing an additional 217 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock worth $61,000 after buying an additional 94 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Teleflex in the 4th quarter worth about $64,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Performance

TFX opened at $132.02 on Tuesday. The company has a 50 day simple moving average of $147.12 and a two-hundred day simple moving average of $180.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm has a market cap of $6.12 billion, a P/E ratio of 26.25, a PEG ratio of 1.73 and a beta of 1.19. Teleflex Incorporated has a 1-year low of $124.66 and a 1-year high of $249.91.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. The business had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Equities analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is currently 95.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TFX shares. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Bank of America downgraded Teleflex from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. Finally, Morgan Stanley cut their price target on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $181.50.

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.