Truist Financial Corp Trims Stake in Teleflex Incorporated (NYSE:TFX)

Truist Financial Corp lessened its holdings in Teleflex Incorporated (NYSE:TFX) by 26.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,692 shares of the medical technology company’s stock after selling 1,677 shares during the period. Truist Financial Corp’s holdings in Teleflex were worth $835,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Avior Wealth Management LLC increased its stake in Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after buying an additional 101 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Teleflex in the 3rd quarter worth $40,000. True Wealth Design LLC increased its stake in Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after buying an additional 166 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Teleflex in the 3rd quarter worth $54,000. Finally, Banque Cantonale Vaudoise increased its stake in Teleflex by 184.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company’s stock worth $56,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of TFX stock opened at $132.58 on Friday. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The company’s 50 day moving average is $175.44 and its 200 day moving average is $204.85. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 52-week low of $130.60 and a 52-week high of $249.90.

Teleflex (NYSE:TFX) last released its quarterly earnings results 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. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. On average, sell-side analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s dividend payout ratio is currently 27.04%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Piper Sandler reissued a “neutral” rating and set a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Friday. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $220.00 to $155.00 in a report on Friday. Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Teleflex has a consensus rating of “Hold” and a consensus price target of $196.83.

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.