Teleflex Incorporated $TFX Stock Position Reduced by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its position in shares of Teleflex Incorporated (NYSE:TFX) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 579,741 shares of the medical technology company’s stock after selling 23,465 shares during the period. Pzena Investment Management LLC’s holdings in Teleflex were worth $72,491,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Next Level Wealth Planning LLC acquired a new stake in shares of Teleflex in the third quarter valued at $38,000. State of Wyoming acquired a new position in Teleflex during the 3rd quarter worth about $269,000. NORTHSTAR ASSET MANAGEMENT Co acquired a new position in Teleflex during the 3rd quarter worth about $117,000. Root Financial Partners LLC acquired a new position in Teleflex during the 3rd quarter worth about $27,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Teleflex during the 3rd quarter valued at about $296,000. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFX has been the subject of several research reports. BMO Capital Markets started coverage on Teleflex in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $159.00 target price for the company. Needham & Company LLC increased their price target on shares of Teleflex from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Wall Street Zen raised shares of Teleflex from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $169.00 price objective (up from $160.00) on shares of Teleflex in a research note on Friday, August 7th. Finally, Zacks Research cut shares of Teleflex from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $154.40.

Teleflex Price Performance

Shares of NYSE TFX opened at $149.72 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.60 and a quick ratio of 2.12. The company has a market cap of $6.34 billion, a price-to-earnings ratio of -6.43, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. The stock’s 50-day moving average is $131.62 and its two-hundred day moving average is $125.60. Teleflex Incorporated has a 1-year low of $100.18 and a 1-year high of $150.04.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, August 6th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.48. Teleflex had a positive return on equity of 11.93% and a negative net margin of 39.67%. The business had revenue of $570.33 million during the quarter, compared to analysts’ expectations of $559.59 million. During the same quarter last year, the business posted $3.73 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. Analysts forecast that Teleflex Incorporated will post 7.22 EPS for the current fiscal year.

About Teleflex

Teleflex Incorporated is a global medical technology company that develops, manufactures and markets specialty medical devices. Its products are designed to support healthcare professionals in critical care and procedural settings, including vascular access, interventional cardiology and radiology, anesthesia, respiratory care, emergency medicine, surgical applications and urology.

The company’s portfolio includes catheters, access and closure devices, airway-management products, surgical instruments, pain-management devices and other technologies used in hospitals and outpatient facilities.