Atria Investments Inc Decreases Position in Teleflex Incorporated (NYSE:TFX)

Atria Investments Inc decreased its stake in Teleflex Incorporated (NYSE:TFX) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,934 shares of the medical technology company’s stock after selling 89 shares during the quarter. Atria Investments Inc’s holdings in Teleflex were worth $726,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC boosted its stake in Teleflex by 6.4% during the third quarter. Verdence Capital Advisors LLC now owns 1,622 shares of the medical technology company’s stock worth $401,000 after buying an additional 97 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Teleflex during the 3rd quarter worth about $54,000. Principal Financial Group Inc. boosted its stake in shares of Teleflex by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 80,409 shares of the medical technology company’s stock worth $19,887,000 after purchasing an additional 2,086 shares during the period. Sentry Investment Management LLC bought a new position in Teleflex during the 3rd quarter valued at about $59,000. Finally, QRG Capital Management Inc. purchased a new stake in Teleflex in the 3rd quarter worth about $509,000. Institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of TFX opened at $194.43 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company has a 50 day moving average price of $230.35 and a 200-day moving average price of $223.37. Teleflex Incorporated has a fifty-two week low of $189.95 and a fifty-two week high of $257.85. The stock has a market capitalization of $9.03 billion, a PE ratio of 38.20, a PEG ratio of 1.97 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 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the prior year, the business earned $3.64 earnings per share. Teleflex’s revenue was up 2.4% on a year-over-year basis. Equities analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial restated a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Mizuho lowered their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.25.

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.