Cresset Asset Management LLC Sells 5,188 Shares of Teleflex Incorporated (NYSE:TFX)

Cresset Asset Management LLC lessened its holdings in Teleflex Incorporated (NYSE:TFX) by 80.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,270 shares of the medical technology company’s stock after selling 5,188 shares during the quarter. Cresset Asset Management LLC’s holdings in Teleflex were worth $226,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TFX. Crestline Management LP acquired a new stake in Teleflex during the 4th quarter valued at approximately $330,000. Centiva Capital LP increased its position in Teleflex by 186.7% during the 4th quarter. Centiva Capital LP now owns 13,412 shares of the medical technology company’s stock valued at $2,387,000 after purchasing an additional 8,734 shares during the period. Brevan Howard Capital Management LP increased its position in Teleflex by 35.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,659 shares of the medical technology company’s stock valued at $1,007,000 after purchasing an additional 1,495 shares during the period. Captrust Financial Advisors increased its position in Teleflex by 4.2% during the 4th quarter. Captrust Financial Advisors now owns 4,217 shares of the medical technology company’s stock valued at $750,000 after purchasing an additional 169 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Teleflex by 46.3% during the 4th quarter. BNP Paribas Financial Markets now owns 94,389 shares of the medical technology company’s stock valued at $16,799,000 after purchasing an additional 29,891 shares during the period. Institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reduced their price objective on shares of Teleflex from $150.00 to $145.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Truist Financial reduced their price objective on shares of Teleflex from $140.00 to $137.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Raymond James downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Teleflex presently has a consensus rating of “Hold” and a consensus price target of $164.63.

Teleflex Price Performance

Shares of NYSE:TFX opened at $129.15 on Monday. 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 simple moving average is $132.83 and its two-hundred day simple moving average is $162.37. Teleflex Incorporated has a 1-year low of $120.06 and a 1-year high of $249.91. The stock has a market cap of $5.71 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17.

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

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, May 20th. Teleflex’s dividend payout ratio (DPR) is presently 42.90%.

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.