AXQ Capital LP Reduces Position in Teleflex Incorporated (NYSE:TFX)

AXQ Capital LP lowered its holdings in Teleflex Incorporated (NYSE:TFX) by 39.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,892 shares of the medical technology company’s stock after selling 1,904 shares during the period. AXQ Capital LP’s holdings in Teleflex were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Natixis Advisors LLC grew its position in shares of Teleflex by 4.7% during the third quarter. Natixis Advisors LLC now owns 20,916 shares of the medical technology company’s stock worth $5,173,000 after buying an additional 937 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Teleflex by 137.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 14,128 shares of the medical technology company’s stock valued at $3,494,000 after acquiring an additional 8,176 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Teleflex by 21.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,303 shares of the medical technology company’s stock worth $5,269,000 after acquiring an additional 3,736 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of Teleflex by 34.8% in the 3rd quarter. Pathstone Holdings LLC now owns 8,700 shares of the medical technology company’s stock worth $2,152,000 after purchasing an additional 2,245 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Teleflex by 184.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company’s stock valued at $56,000 after purchasing an additional 146 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Stock Performance

Shares of NYSE TFX opened at $141.77 on Friday. Teleflex Incorporated has a 12-month low of $128.55 and a 12-month high of $249.91. The company has a market cap of $6.57 billion, a PE ratio of 28.19, a P/E/G ratio of 1.73 and a beta of 1.21. The stock has a 50 day simple moving average of $163.17 and a 200-day simple moving average of $194.04. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. On average, equities research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

Wall Street Analyst Weigh In

TFX has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Raymond James downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Finally, Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $182.63.

About Teleflex

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.