Cerity Partners LLC Raises Holdings in Teleflex Incorporated (NYSE:TFX)

Cerity Partners LLC increased its position in Teleflex Incorporated (NYSE:TFX) by 25.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,822 shares of the medical technology company’s stock after buying an additional 3,448 shares during the period. Cerity Partners LLC’s holdings in Teleflex were worth $3,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TFX. Russell Investments Group Ltd. boosted its position in shares of Teleflex by 116.9% during the 4th quarter. Russell Investments Group Ltd. now owns 89,194 shares of the medical technology company’s stock valued at $15,870,000 after acquiring an additional 48,064 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Teleflex during the fourth quarter valued at $272,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Teleflex in the 4th quarter worth $2,471,000. Prudential PLC increased its holdings in shares of Teleflex by 50.8% in the 4th quarter. Prudential PLC now owns 10,703 shares of the medical technology company’s stock worth $1,905,000 after buying an additional 3,604 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Teleflex by 38.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company’s stock valued at $105,102,000 after buying an additional 162,950 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Teleflex Price Performance

Teleflex stock opened at $132.02 on Tuesday. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The firm has a 50-day moving average of $147.12 and a two-hundred day moving average of $180.28. Teleflex Incorporated has a 1 year low of $124.66 and a 1 year high of $249.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX) last announced 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 for the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were issued a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 1.03%. Teleflex’s payout ratio is currently 95.77%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Bank of America lowered shares of Teleflex from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $181.50.

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.