Goldman Sachs Group Inc. cut its stake in Teleflex Incorporated (NYSE:TFX) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 283,939 shares of the medical technology company’s stock after selling 85,597 shares during the quarter. Goldman Sachs Group Inc. owned about 0.63% of Teleflex worth $70,649,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Comerica Bank lifted its position in shares of Teleflex by 0.6% during the fourth quarter. Comerica Bank now owns 35,546 shares of the medical technology company’s stock worth $9,778,000 after purchasing an additional 198 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Teleflex by 3.9% during the third quarter. Chartwell Investment Partners LLC now owns 5,444 shares of the medical technology company’s stock worth $1,317,000 after purchasing an additional 204 shares during the last quarter. Creative Planning lifted its position in shares of Teleflex by 6.0% during the fourth quarter. Creative Planning now owns 4,119 shares of the medical technology company’s stock worth $1,025,000 after purchasing an additional 234 shares during the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Teleflex by 0.3% during the fourth quarter. Osterweis Capital Management Inc. now owns 90,707 shares of the medical technology company’s stock worth $22,570,000 after purchasing an additional 242 shares during the last quarter. Finally, Barometer Capital Management Inc. lifted its position in shares of Teleflex by 3.2% during the fourth quarter. Barometer Capital Management Inc. now owns 8,075 shares of the medical technology company’s stock worth $2,009,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 90.75% of the company’s stock.
In other Teleflex news, Director George Babich, Jr. sold 2,500 shares of Teleflex stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $283.11, for a total value of $707,775.00. Following the transaction, the director now owns 9,581 shares in the company, valued at $2,712,476.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $276.44, for a total value of $55,288.00. Following the completion of the transaction, the director now owns 8,080 shares in the company, valued at approximately $2,233,635.20. The disclosure for this sale can be found here. Insiders sold 25,890 shares of company stock worth $6,693,722 in the last quarter. 2.39% of the stock is owned by insiders.
Shares of Teleflex stock traded down $5.38 during trading on Friday, hitting $246.68. 215,139 shares of the stock traded hands, compared to its average volume of 328,998. The firm has a market cap of $11,112.69, a P/E ratio of 29.37, a P/E/G ratio of 1.82 and a beta of 1.18. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 0.89. Teleflex Incorporated has a 52-week low of $191.40 and a 52-week high of $288.78.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Teleflex had a return on equity of 16.46% and a net margin of 7.11%. The firm had revenue of $595.10 million for the quarter, compared to analyst estimates of $601.17 million. During the same quarter last year, the firm posted $2.13 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. analysts forecast that Teleflex Incorporated will post 9.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd were paid a $0.34 dividend. The ex-dividend date was Thursday, March 1st. This represents a $1.36 annualized dividend and a yield of 0.55%. Teleflex’s dividend payout ratio (DPR) is presently 16.19%.
Several analysts have recently weighed in on the company. Goldman Sachs assumed coverage on Teleflex in a research report on Wednesday. They set a “neutral” rating and a $257.00 target price for the company. Leerink Swann reiterated a “buy” rating and set a $321.00 target price (up from $307.00) on shares of Teleflex in a research report on Tuesday, January 30th. Stephens reiterated a “buy” rating and set a $300.00 target price on shares of Teleflex in a research report on Thursday, January 18th. TheStreet lowered Teleflex from an “a-” rating to a “c+” rating in a research note on Monday, March 12th. Finally, ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $279.10.
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Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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