Comerica Bank Sells 6,846 Shares of Teleflex Incorporated (NYSE:TFX)

Comerica Bank cut its position in shares of Teleflex Incorporated (NYSE:TFX) by 44.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,437 shares of the medical technology company’s stock after selling 6,846 shares during the quarter. Comerica Bank’s holdings in Teleflex were worth $1,502,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Teleflex during the fourth quarter worth approximately $29,000. Avior Wealth Management LLC raised its position in Teleflex by 81.2% in the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after purchasing an additional 125 shares during the period. IFP Advisors Inc lifted its stake in Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after purchasing an additional 217 shares during the last quarter. Exchange Traded Concepts LLC boosted 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 valued at $61,000 after buying an additional 94 shares during the period. Finally, R Squared Ltd bought a new position in shares of Teleflex during the fourth quarter valued at about $64,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Trading Down 0.9 %

NYSE TFX opened at $125.10 on Friday. Teleflex Incorporated has a 12 month low of $120.06 and a 12 month high of $249.91. 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’s fifty day moving average price is $133.86 and its 200-day moving average price is $166.39. The stock has a market cap of $5.53 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.73 and a beta of 1.17.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. The firm had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 earnings per share. As a group, equities analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were paid a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.09%. Teleflex’s dividend payout ratio is presently 42.90%.

Analyst Ratings Changes

Several brokerages recently weighed in on TFX. Wells Fargo & Company dropped their target price on Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their price target on shares of Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Mizuho set a $155.00 price target on shares of Teleflex in a report on Wednesday, April 16th. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Finally, Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $164.63.

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.