Teleflex Incorporated (NYSE:TFX) Holdings Cut by Bridgewater Associates LP

Bridgewater Associates LP reduced its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 82.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,586 shares of the medical technology company's stock after selling 34,531 shares during the period. Bridgewater Associates LP's holdings in Teleflex were worth $1,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TFX. Cooke & Bieler LP boosted its position in Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company's stock worth $191,989,000 after acquiring an additional 172,335 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Teleflex by 12.0% during the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company's stock worth $95,928,000 after purchasing an additional 48,832 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Teleflex by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company's stock worth $105,749,000 after purchasing an additional 1,884 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Teleflex by 6.6% in the second 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 purchasing an additional 26,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Teleflex by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company's stock valued at $83,741,000 after purchasing an additional 15,992 shares during the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a report on Thursday. Truist Financial restated 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. Royal Bank of Canada lowered their price target on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Teleflex has an average rating of "Moderate Buy" and an average target price of $259.25.

Teleflex Stock Up 0.4 %

Shares of Teleflex stock traded up $0.85 on Friday, hitting $192.85. 400,527 shares of the company's stock traded hands, compared to its average volume of 513,850. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm's 50-day moving average is $219.90 and its 200 day moving average is $222.41. The stock has a market cap of $8.96 billion, a P/E ratio of 38.34, a PEG ratio of 1.97 and a beta of 1.18. Teleflex Incorporated has a 52-week low of $185.66 and a 52-week high of $257.85.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly 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. The business had revenue of $764.40 million for the quarter, compared to analysts' expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.64 earnings per share. Equities analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex's dividend payout ratio is currently 27.04%.

Teleflex Company 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.