Teleflex Incorporated (NYSE:TFX) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC cut its stake in Teleflex Incorporated (NYSE:TFX) by 15.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,026 shares of the medical technology company’s stock after selling 1,479 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Teleflex were worth $1,985,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cromwell Holdings LLC increased its stake in shares of Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Teleflex by 131.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Teleflex during the 2nd quarter worth approximately $42,000. Versant Capital Management Inc increased its stake 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 worth $44,000 after purchasing an additional 207 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 93 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Stock Performance

Teleflex stock opened at $211.21 on Friday. Teleflex Incorporated has a 12-month low of $190.49 and a 12-month high of $257.85. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 41.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.44. The firm’s fifty day moving average price is $239.55 and its 200 day moving average price is $223.93.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.11. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.64 EPS. On average, research analysts forecast that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is currently 27.04%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TFX. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday. Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. 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 report on Friday. Royal Bank of Canada decreased their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Truist Financial lifted their price target on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.75.

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.