Congress Asset Management Co. MA Sells 2,711 Shares of Teleflex Incorporated (NYSE:TFX)

Congress Asset Management Co. MA lowered its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 50.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,671 shares of the medical technology company’s stock after selling 2,711 shares during the period. Congress Asset Management Co. MA’s holdings in Teleflex were worth $604,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in shares of Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock valued at $35,000 after purchasing an additional 113 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of Teleflex during the 4th quarter valued at $35,000. Covestor Ltd grew its holdings in Teleflex by 305.6% in the 3rd 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 last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in Teleflex by 227.1% in the 4th quarter. Janiczek Wealth Management LLC now owns 157 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 109 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TFX. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Truist Financial cut their price target on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $257.29.

Teleflex Trading Up 0.7 %

Shares of TFX opened at $203.40 on Friday. The firm’s 50-day moving average price is $208.37 and its 200-day moving average price is $227.13. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.96 and a beta of 1.16. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $262.97.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. The firm had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.09 EPS. Sell-side analysts anticipate that Teleflex Incorporated will post 13.75 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.67%. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

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.