Quest Partners LLC Sells 1,584 Shares of Teleflex Incorporated (NYSE:TFX)

Quest Partners LLC decreased its stake in Teleflex Incorporated (NYSE:TFX) by 42.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,146 shares of the medical technology company’s stock after selling 1,584 shares during the period. Quest Partners LLC’s holdings in Teleflex were worth $531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TFX. Cromwell Holdings LLC lifted its position in Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after buying an additional 49 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Teleflex during the third quarter worth approximately $40,000. Canada Pension Plan Investment Board bought a new stake in shares of Teleflex in the 2nd quarter worth approximately $42,000. GAMMA Investing LLC boosted its stake in shares of Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

NYSE:TFX opened at $191.71 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a twelve month low of $185.66 and a twelve month high of $257.85. The stock has a market cap of $8.90 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18. The firm’s fifty day simple moving average is $224.99 and its 200 day simple moving average is $222.73.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter in the previous year, the company earned $3.64 earnings per share. Teleflex’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. Teleflex’s dividend payout ratio is presently 27.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stephens upped their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price target (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Mizuho decreased their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Teleflex presently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

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.