Teleflex Incorporated (NYSE:TFX) Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP reduced its position in shares of Teleflex Incorporated (NYSE:TFX) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,683 shares of the medical technology company’s stock after selling 114 shares during the quarter. Quantinno Capital Management LP’s holdings in Teleflex were worth $3,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TFX. Quarry LP grew its stake in Teleflex by 71.5% in the 3rd quarter. Quarry LP now owns 391 shares of the medical technology company’s stock worth $97,000 after acquiring an additional 163 shares during the period. Royal London Asset Management Ltd. boosted its holdings in shares of Teleflex by 3.0% during the third quarter. Royal London Asset Management Ltd. now owns 19,364 shares of the medical technology company’s stock worth $4,789,000 after purchasing an additional 555 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Teleflex by 31.2% in the third quarter. Point72 Asset Management L.P. now owns 407,442 shares of the medical technology company’s stock valued at $100,768,000 after purchasing an additional 96,958 shares during the period. Parkman Healthcare Partners LLC acquired a new position in Teleflex in the third quarter valued at $23,778,000. Finally, Investment Management Corp of Ontario lifted its position in Teleflex by 48.7% during the third quarter. Investment Management Corp of Ontario now owns 1,526 shares of the medical technology company’s stock worth $377,000 after buying an additional 500 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Trading Up 1.3 %

TFX opened at $187.08 on Tuesday. Teleflex Incorporated has a 12-month low of $184.19 and a 12-month high of $257.85. 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 stock has a market capitalization of $8.69 billion, a PE ratio of 37.19, a P/E/G ratio of 1.89 and a beta of 1.16. The firm’s fifty day moving average price is $212.96 and its 200 day moving average price is $221.34.

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

Teleflex Announces Dividend

The company 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. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.73%. Teleflex’s payout ratio is 27.04%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFX. Mizuho dropped their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada dropped their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.00.

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.