Fifth Third Bancorp Sells 511 Shares of Teleflex Incorporated (NYSE:TFX)

Fifth Third Bancorp cut its stake in Teleflex Incorporated (NYSE:TFX) by 11.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,849 shares of the medical technology company’s stock after selling 511 shares during the period. Fifth Third Bancorp’s holdings in Teleflex were worth $685,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Simplify Asset Management Inc. acquired a new stake in shares of Teleflex in the third quarter valued at approximately $4,800,000. JPMorgan Chase & Co. increased its stake in shares of Teleflex by 14.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after buying an additional 19,466 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Teleflex by 19.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 80 shares during the last quarter. LGT Capital Partners LTD. lifted its stake in shares of Teleflex by 4.2% during the third quarter. LGT Capital Partners LTD. now owns 231,685 shares of the medical technology company’s stock valued at $57,300,000 after acquiring an additional 9,411 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Teleflex by 41.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company’s stock valued at $6,010,000 after acquiring an additional 7,132 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

TFX opened at $180.61 on Thursday. The company has a fifty day simple moving average of $182.40 and a 200 day simple moving average of $213.73. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.39 billion, a P/E ratio of 35.91, a P/E/G ratio of 1.79 and a beta of 1.16. Teleflex Incorporated has a 12 month low of $171.69 and a 12 month high of $256.85.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping 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 analyst estimates of $768.68 million. During the same quarter last year, the firm posted $3.64 earnings per share. Teleflex’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Analysts Set New Price Targets

TFX has been the topic of a number of research reports. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Truist Financial dropped their target price on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Finally, Royal Bank of Canada dropped 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.50.

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.