Kentucky Retirement Systems Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Kentucky Retirement Systems lowered its position in Teleflex Incorporated (NYSE:TFX) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,569 shares of the medical technology company’s stock after selling 191 shares during the quarter. Kentucky Retirement Systems’ holdings in Teleflex were worth $807,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TFX. 1832 Asset Management L.P. boosted its stake in shares of Teleflex by 10.2% during the first quarter. 1832 Asset Management L.P. now owns 43,418 shares of the medical technology company’s stock valued at $9,820,000 after acquiring an additional 4,003 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Teleflex in the 1st quarter valued at about $661,000. Westwood Holdings Group Inc. lifted its stake in shares of Teleflex by 25.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 57,225 shares of the medical technology company’s stock valued at $12,943,000 after purchasing an additional 11,569 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Teleflex by 2.1% in the 1st quarter. Toronto Dominion Bank now owns 27,172 shares of the medical technology company’s stock valued at $6,145,000 after purchasing an additional 553 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of Teleflex by 6,428.1% in the 1st quarter. Vident Advisory LLC now owns 61,952 shares of the medical technology company’s stock valued at $14,012,000 after purchasing an additional 61,003 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

TFX has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $205.00 to $245.00 in a report on Monday, July 1st. Finally, Truist Financial raised their target price on Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $263.14.

Teleflex Stock Up 0.9 %

TFX stock traded up $2.05 during midday trading on Monday, hitting $222.35. 80,408 shares of the company’s stock were exchanged, compared to its average volume of 364,704. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The firm has a 50 day moving average price of $212.42 and a 200-day moving average price of $221.81. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.14. The company had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. Teleflex’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.09 EPS. On average, analysts anticipate that Teleflex Incorporated will post 13.75 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.61%. Teleflex’s payout ratio is 21.83%.

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.