Teleflex Incorporated (NYSE:TFX) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Teleflex Incorporated (NYSE:TFX) by 8.2% during the third quarter, Holdings Channel.com reports. The fund owned 1,395 shares of the medical technology company’s stock after selling 124 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Teleflex were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Teleflex by 2.7% during the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after purchasing an additional 6,076 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Teleflex by 15.8% during the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock worth $4,245,000 after purchasing an additional 2,570 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Teleflex by 876.7% during the second quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock worth $4,538,000 after purchasing an additional 19,367 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Teleflex in the first quarter worth about $679,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of NYSE:TFX opened at $193.07 on Wednesday. The company’s fifty day moving average is $229.33 and its two-hundred day moving average is $223.34. 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 12-month low of $189.93 and a 12-month high of $257.85. The company has a market cap of $8.97 billion, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same period in the prior year, the business posted $3.64 earnings per share. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.70%. Teleflex’s dividend payout ratio (DPR) is currently 27.04%.

Wall Street Analyst Weigh In

TFX has been the subject of several research analyst reports. Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Mizuho decreased their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Royal Bank of Canada cut their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Teleflex has a consensus 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.