Entropy Technologies LP Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Entropy Technologies LP lowered its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 59.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,616 shares of the medical technology company's stock after selling 8,068 shares during the quarter. Entropy Technologies LP's holdings in Teleflex were worth $1,389,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Cromwell Holdings LLC grew its position in shares of Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 49 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Teleflex during the 3rd quarter worth approximately $40,000. Canada Pension Plan Investment Board acquired a new position in Teleflex during the second quarter worth $42,000. GAMMA Investing LLC boosted its position in shares of Teleflex by 131.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company's stock valued at $42,000 after acquiring an additional 97 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company's stock valued at $44,000 after purchasing an additional 207 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on TFX. Royal Bank of Canada decreased their target price on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Truist Financial restated a "hold" rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a research report on Friday, November 1st. Finally, Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a "neutral" 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $259.25.

Teleflex Stock Performance

TFX traded down $3.20 on Thursday, reaching $190.78. The company had a trading volume of 278,024 shares, compared to its average volume of 377,415. The stock has a 50-day moving average price of $232.44 and a 200-day moving average price of $223.53. The stock has a market capitalization of $8.86 billion, a PE ratio of 38.17, a P/E/G ratio of 2.00 and a beta of 1.18. Teleflex Incorporated has a 1 year low of $190.51 and a 1 year high of $257.85. 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 (NYSE:TFX - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $768.68 million. During the same period last year, the firm earned $3.64 EPS. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm 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. This represents a $1.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex's dividend payout ratio (DPR) is currently 27.04%.

Insider Buying and Selling

In related news, Director Stuart A. Randle sold 2,674 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company's stock, valued at approximately $1,313,159.28. This represents a 32.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.43% of the stock is owned by insiders.

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.