Proficio Capital Partners LLC Takes $3.30 Million Position in Teleflex Incorporated (NYSE:TFX)

Proficio Capital Partners LLC bought a new stake in Teleflex Incorporated (NYSE:TFX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,523 shares of the medical technology company's stock, valued at approximately $3,297,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of Teleflex by 1.7% in the third quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company's stock valued at $986,000 after acquiring an additional 66 shares in the last quarter. Huntington National Bank lifted its position in Teleflex by 32.5% during the third quarter. Huntington National Bank now owns 310 shares of the medical technology company's stock worth $77,000 after buying an additional 76 shares in the last quarter. Hengehold Capital Management LLC lifted its position in Teleflex by 7.3% during the fourth quarter. Hengehold Capital Management LLC now owns 1,289 shares of the medical technology company's stock worth $229,000 after buying an additional 88 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Teleflex by 38.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock worth $61,000 after buying an additional 94 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company's stock valued at $38,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 95.62% of the company's stock.

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Teleflex Stock Up 1.7 %

Shares of NYSE:TFX traded up $2.34 on Friday, hitting $141.77. 12,053,190 shares of the company's stock were exchanged, compared to its average volume of 544,379. The firm's 50-day moving average is $163.17 and its 200 day moving average is $194.40. The company has a market capitalization of $6.57 billion, a PE ratio of 28.19, a P/E/G ratio of 1.73 and a beta of 1.21. Teleflex Incorporated has a 1-year low of $128.55 and a 1-year high of $249.91. 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 (NYSE:TFX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $795.40 million during the quarter, compared to analysts' expectations of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Sell-side analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, March 7th. Teleflex's payout ratio is currently 95.77%.

Wall Street Analysts Forecast Growth

TFX has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Raymond James downgraded Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Royal Bank of Canada downgraded Teleflex from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $220.00 to $155.00 in a report on Friday, February 28th. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their price objective on Teleflex from $214.00 to $146.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $182.63.

About Teleflex

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.