Teleflex Incorporated $TFX Stock: Pictet Asset Management Holding SA Cuts Holdings

Pictet Asset Management Holding SA trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,448 shares of the medical technology company’s stock after selling 18,159 shares during the quarter. Pictet Asset Management Holding SA owned 0.29% of Teleflex worth $15,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kelleher Financial Advisors bought a new position in shares of Teleflex during the second quarter valued at $25,000. Root Financial Partners LLC bought a new stake in shares of Teleflex in the third quarter worth $27,000. Next Level Wealth Planning LLC bought a new stake in shares of Teleflex in the third quarter worth $38,000. Heritage Family Offices LLP acquired a new stake in Teleflex in the third quarter valued at $39,000. Finally, Allworth Financial LP acquired a new stake in Teleflex in the second quarter valued at $44,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Trading Down 1.9%

NYSE:TFX opened at $153.40 on Friday. The firm’s fifty day moving average is $133.29 and its 200-day moving average is $127.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.59 and a current ratio of 2.01. Teleflex Incorporated has a 52 week low of $100.18 and a 52 week high of $156.75. The firm has a market cap of $6.08 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.05 and a beta of 0.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.73. Teleflex had a net margin of 13.51% and a return on equity of 10.57%. The company had revenue of $567.80 million during the quarter, compared to analysts’ expectations of $565.52 million. During the same period in the prior year, the company posted $3.67 earnings per share. Teleflex’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Teleflex Incorporated will post 7.67 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Teleflex’s dividend payout ratio is 16.52%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TFX. Mizuho set a $160.00 target price on Teleflex in a research report on Friday, November 6th. Piper Sandler reiterated an “overweight” rating and issued a $169.00 price target (up from $160.00) on shares of Teleflex in a research report on Friday, August 7th. Needham & Company LLC increased their price target on Teleflex from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Truist Financial increased their price target on Teleflex from $142.00 to $167.00 and gave the company a “hold” rating in a research note on Monday. Finally, Zacks Research downgraded Teleflex from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.30.

Teleflex Profile

Teleflex is a global medical technology company that develops, manufactures and markets single-use medical devices used by healthcare professionals in hospitals and other care settings. Its products support a range of procedures, including vascular access, anesthesia, critical care, surgery, urology and emergency medicine. The company’s offerings include vascular and interventional access devices, catheters, airway management products, surgical instruments and other devices used in diagnostic and therapeutic procedures.