Simplify Asset Management Inc. Sells 6,666 Shares of Teleflex Incorporated (NYSE:TFX)

Simplify Asset Management Inc. reduced its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 34.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,742 shares of the medical technology company's stock after selling 6,666 shares during the quarter. Simplify Asset Management Inc.'s holdings in Teleflex were worth $2,268,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TFX. Avior Wealth Management LLC increased its holdings 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. True Wealth Design LLC grew its position in shares of Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company's stock valued at $41,000 after buying an additional 166 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after buying an additional 217 shares during the period. Banque Cantonale Vaudoise raised its position in shares of Teleflex by 184.8% during the third quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company's stock worth $56,000 after acquiring an additional 146 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of 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 acquiring an additional 94 shares during the last quarter. Institutional investors own 95.62% of the company's stock.

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Teleflex Stock Down 0.6 %

TFX traded down $0.89 during midday trading on Thursday, hitting $139.34. The company had a trading volume of 838,993 shares, compared to its average volume of 555,442. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.73 and a beta of 1.21. The stock's 50 day moving average price is $160.07 and its 200 day moving average price is $191.50. 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 Incorporated has a 52 week low of $128.55 and a 52 week high of $249.91.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts' consensus estimates of $3.86 by $0.03. The business had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, March 7th. Teleflex's dividend payout ratio is currently 95.77%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada downgraded shares of Teleflex from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $220.00 to $155.00 in a research report on Friday, February 28th. StockNews.com lowered shares of Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler reissued a "neutral" rating and set a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Raymond James cut shares of Teleflex from an "outperform" rating to a "market perform" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company decreased their price target on Teleflex from $214.00 to $146.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $182.63.

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.