Cinctive Capital Management LP Sells 11,393 Shares of Teleflex Incorporated (NYSE:TFX)

Cinctive Capital Management LP lessened its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 36.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,796 shares of the medical technology company's stock after selling 11,393 shares during the quarter. Cinctive Capital Management LP's holdings in Teleflex were worth $4,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp boosted its position in shares of Teleflex by 2.7% in the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company's stock worth $49,199,000 after acquiring an additional 6,076 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Teleflex by 876.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company's stock worth $4,538,000 after buying an additional 19,367 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Teleflex in the 3rd quarter worth $4,800,000. Swedbank AB acquired a new position in Teleflex in the first quarter valued at $679,000. Finally, SG Americas Securities LLC grew its position in Teleflex by 99.3% during the second quarter. SG Americas Securities LLC now owns 13,791 shares of the medical technology company's stock valued at $2,901,000 after acquiring an additional 6,871 shares during the period. Institutional investors and hedge funds own 95.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TFX. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research note on Friday, November 1st. Mizuho decreased 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. Royal Bank of Canada decreased their price objective on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Truist Financial reaffirmed a "hold" rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a report on Thursday, November 28th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $259.25.

Teleflex Price Performance

Shares of NYSE:TFX traded down $5.89 during trading hours on Tuesday, hitting $188.42. 229,731 shares of the company's stock traded hands, compared to its average volume of 381,730. The company's fifty day simple moving average is $218.89 and its two-hundred day simple moving average is $222.26. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a 52 week low of $185.27 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 earnings per share for the quarter, beating 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 business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the previous year, the company posted $3.64 earnings per share. Teleflex's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Teleflex's payout ratio is presently 27.04%.

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.