Clearbridge Investments LLC Cuts Position in Teleflex Incorporated (NYSE:TFX)

Clearbridge Investments LLC reduced its stake in shares of Teleflex Incorporated (NYSE:TFX) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,461 shares of the medical technology company’s stock after selling 1,822 shares during the period. Clearbridge Investments LLC owned approximately 0.20% of Teleflex worth $16,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in Teleflex by 81.2% during the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after buying an additional 125 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after acquiring an additional 217 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock worth $61,000 after acquiring an additional 94 shares during the period. R Squared Ltd purchased a new position in Teleflex in the 4th quarter valued at approximately $64,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Teleflex in the 4th quarter valued at approximately $73,000. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Raymond James cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Bank of America cut shares of Teleflex from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Price Performance

TFX stock opened at $141.13 on Thursday. Teleflex Incorporated has a 12-month low of $128.55 and a 12-month high of $249.91. The stock has a 50-day moving average price of $156.70 and a two-hundred day moving average price of $188.17. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market cap of $6.54 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX) last released its quarterly earnings data 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. The company had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. 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 was paid on Monday, March 17th. Investors of record on Friday, March 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is 95.77%.

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.