Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Teleflex Incorporated (NYSE:TFX) by 5.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,511 shares of the medical technology company’s stock after selling 211 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Teleflex were worth $868,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 93 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Teleflex during the 2nd quarter valued at approximately $25,550,000. Bank of New York Mellon Corp boosted its stake in shares of 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 buying an additional 26,325 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of Teleflex in the second quarter worth $321,000. Finally, Conestoga Capital Advisors LLC raised its holdings in Teleflex by 18.5% in the second quarter. Conestoga Capital Advisors LLC now owns 73,829 shares of the medical technology company’s stock valued at $15,528,000 after acquiring an additional 11,517 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Down 3.2 %

NYSE:TFX opened at $172.66 on Thursday. The firm has a market capitalization of $8.02 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. Teleflex Incorporated has a 52 week low of $172.45 and a 52 week high of $256.85. 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 stock has a 50 day moving average of $204.80 and a 200-day moving average of $219.97.

Teleflex (NYSE:TFX) last issued its quarterly earnings data 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. The firm had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.64 EPS. Analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a $0.34 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.79%. Teleflex’s dividend payout ratio is presently 27.04%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TFX shares. Royal Bank of Canada decreased their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Mizuho decreased their price target on 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 cut their price objective on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Teleflex has a consensus rating of “Moderate Buy” and a consensus target price of $255.14.

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.