Charles Schwab Investment Management Inc. Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Charles Schwab Investment Management Inc. reduced its position in Teleflex Incorporated (NYSE:TFX) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398,678 shares of the medical technology company’s stock after selling 27,705 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.86% of Teleflex worth $98,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Cromwell Holdings LLC increased its holdings in Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares during the last quarter. Avior Wealth Management LLC boosted its position in Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 101 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Teleflex in the third quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of Teleflex by 131.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 97 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Teleflex during the 2nd quarter valued at approximately $42,000. 95.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TFX shares. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada reduced their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Finally, Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Price Performance

TFX stock opened at $191.02 on Wednesday. The firm has a 50 day simple moving average of $222.95 and a two-hundred day simple moving average of $222.87. The stock has a market cap of $8.87 billion, a PE ratio of 37.98, a P/E/G ratio of 1.96 and a beta of 1.18. Teleflex Incorporated has a one year low of $185.66 and a one year high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX) last announced 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. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same period last year, the firm posted $3.64 EPS. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. Teleflex’s dividend payout ratio is currently 27.04%.

Teleflex 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.