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

Entropy Technologies LP reduced its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 59.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,616 shares of the medical technology company’s stock after selling 8,068 shares during the quarter. Entropy Technologies LP’s holdings in Teleflex were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 96,711 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of 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 buying an additional 581,312 shares in the last quarter. Cooke & Bieler LP raised its position in shares of 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 buying an additional 172,335 shares in the last quarter. TD Asset Management Inc raised its position in shares of 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 buying an additional 48,832 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teleflex

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada reduced their target price 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. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial reaffirmed a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, Mizuho reduced their target price 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Down 0.8 %

NYSE:TFX opened at $193.98 on Thursday. The company has a 50-day moving average price of $233.46 and a 200-day moving average price of $223.73. Teleflex Incorporated has a 12 month low of $193.49 and a 12 month high of $257.85. 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 market cap of $9.01 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 2.00 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same period last year, the company posted $3.64 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

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

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.