Congress Asset Management Co. MA Lowers Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Congress Asset Management Co. MA trimmed its position in shares of Teleflex Incorporated (NYSE:TFX) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,382 shares of the medical technology company’s stock after selling 691 shares during the quarter. Congress Asset Management Co. MA’s holdings in Teleflex were worth $1,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal London Asset Management Ltd. boosted its holdings in Teleflex by 2.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 18,263 shares of the medical technology company’s stock valued at $4,554,000 after acquiring an additional 510 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Teleflex by 11.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 171,959 shares of the medical technology company’s stock valued at $42,876,000 after acquiring an additional 17,669 shares during the period. Pineridge Advisors LLC purchased a new position in Teleflex during the 4th quarter valued at about $35,000. Virtu Financial LLC purchased a new position in Teleflex during the 4th quarter valued at about $683,000. Finally, Speece Thorson Capital Group Inc. boosted its stake in shares of Teleflex by 1.0% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 28,455 shares of the medical technology company’s stock valued at $7,095,000 after buying an additional 274 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFX has been the subject of several recent research reports. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada decreased their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Truist Financial decreased their price objective on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and a consensus price target of $257.29.

Teleflex Price Performance

TFX stock opened at $205.77 on Tuesday. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.02 and a beta of 1.16. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $262.97. The business has a 50 day moving average price of $209.66 and a 200 day moving average price of $227.85. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 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 analyst estimates of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.09 earnings per share. Equities research analysts anticipate that Teleflex Incorporated will post 13.75 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 14th. Teleflex’s dividend payout ratio (DPR) 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.