Wellington Management Group LLP Sells 1,138,102 Shares of Teleflex Incorporated (NYSE:TFX)

Wellington Management Group LLP lessened its stake in Teleflex Incorporated (NYSE:TFX) by 87.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,363 shares of the medical technology company’s stock after selling 1,138,102 shares during the quarter. Wellington Management Group LLP owned 0.34% of Teleflex worth $38,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. CWM LLC boosted its stake in Teleflex by 22.9% during the 2nd quarter. CWM LLC now owns 1,317 shares of the medical technology company’s stock valued at $277,000 after purchasing an additional 245 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Teleflex by 876.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock worth $4,538,000 after buying an additional 19,367 shares in the last quarter. Blue Trust Inc. raised its position in Teleflex by 78.2% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after buying an additional 93 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Teleflex by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock valued at $49,199,000 after acquiring an additional 6,076 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Teleflex in the second quarter worth approximately $3,084,000. Institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TFX shares. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Royal Bank of Canada cut their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Truist Financial reissued a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, Mizuho cut their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Teleflex Price Performance

NYSE TFX opened at $183.31 on Friday. The business’s fifty day moving average is $210.58 and its 200 day moving average is $220.93. Teleflex Incorporated has a fifty-two week low of $182.80 and a fifty-two week high of $257.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company has a market capitalization of $8.51 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.16.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.64 EPS. Sell-side analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.74%. Teleflex’s payout ratio is 27.04%.

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.