Entropy Technologies LP Trims Position in Teleflex Incorporated (NYSE:TFX)

Entropy Technologies LP decreased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 59.0% during the third quarter, HoldingsChannel reports. The firm owned 5,616 shares of the medical technology company’s stock after selling 8,068 shares during the period. Entropy Technologies LP’s holdings in Teleflex were worth $1,389,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Teleflex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after purchasing an additional 96,711 shares during the period. Janus Henderson Group PLC increased its position in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after purchasing an additional 581,312 shares during the period. Cooke & Bieler LP increased its position in Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the period. TD Asset Management Inc increased its position in Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after purchasing an additional 48,832 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Teleflex by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock valued at $89,526,000 after purchasing an additional 26,325 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Down 0.8 %

TFX stock opened at $193.98 on Thursday. The firm has a 50 day moving average of $233.46 and a 200 day moving average of $223.73. The stock has a market capitalization of $9.01 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 52 week low of $193.49 and a 52 week high of $257.85.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same period last year, the business earned $3.64 EPS. Teleflex’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFX. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada lowered 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, November 1st. Mizuho lowered their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial restated a “hold” rating and issued a $227.00 price target (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

Insider Buying and Selling at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.

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.