Entropy Technologies LP Lowers Stock Position in Teleflex Incorporated (NYSE:TFX)

Entropy Technologies LP lowered its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 59.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFX. ProShare Advisors LLC raised its holdings in shares of Teleflex by 34.1% in the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company's stock worth $2,759,000 after buying an additional 3,105 shares during the period. Tidal Investments LLC lifted its position in shares of Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company's stock worth $1,503,000 after purchasing an additional 4,533 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Teleflex by 2.7% during the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company's stock valued at $49,199,000 after purchasing an additional 6,076 shares during the period. Russell Investments Group Ltd. grew its stake in Teleflex by 15.8% in the 1st quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company's stock worth $4,245,000 after acquiring an additional 2,570 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Teleflex during the 1st quarter worth $537,000. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TFX shares. Truist Financial reiterated a "hold" rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. StockNews.com upgraded shares of Teleflex from a "hold" rating to a "buy" rating in a report on Tuesday. Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective 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. Finally, Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $259.25.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares of the company's stock, valued at approximately $1,313,159.28. This trade represents a 32.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.43% of the company's stock.

Teleflex Stock Down 1.6 %

Shares of TFX traded down $3.20 during midday trading on Thursday, hitting $190.78. 278,024 shares of the company's stock traded hands, compared to its average volume of 377,415. Teleflex Incorporated has a 1 year low of $190.51 and a 1 year high of $257.85. The firm's fifty day moving average is $232.44 and its 200-day moving average is $223.53. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18.

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 (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the prior year, the company posted $3.64 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side 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. Shareholders of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.71%. Teleflex's payout ratio is presently 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.