Sio Capital Management LLC Has $9.71 Million Holdings in Teleflex Incorporated (NYSE:TFX)

Sio Capital Management LLC lessened its stake in shares of Teleflex Incorporated (NYSE:TFX) by 64.6% during the third quarter, Holdings Channel.com reports. The firm owned 39,272 shares of the medical technology company’s stock after selling 71,806 shares during the period. Teleflex accounts for about 3.9% of Sio Capital Management LLC’s portfolio, making the stock its 7th biggest position. Sio Capital Management LLC’s holdings in Teleflex were worth $9,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of Teleflex by 214.7% in the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares in the last quarter. Comerica Bank increased its position in shares of Teleflex by 13.0% during the first quarter. Comerica Bank now owns 14,491 shares of the medical technology company’s stock valued at $3,277,000 after acquiring an additional 1,662 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in Teleflex by 11.0% during the first quarter. iA Global Asset Management Inc. now owns 3,136 shares of the medical technology company’s stock worth $709,000 after acquiring an additional 311 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Teleflex by 115.0% during the first quarter. Citizens Financial Group Inc. RI now owns 1,989 shares of the medical technology company’s stock worth $450,000 after acquiring an additional 1,064 shares during the period. Finally, Swedbank AB purchased a new position in Teleflex in the first quarter worth $679,000. 95.62% of the stock is owned by institutional investors.

Teleflex Trading Up 0.5 %

Teleflex stock opened at $192.00 on Friday. Teleflex Incorporated has a fifty-two week low of $185.66 and a fifty-two week high of $257.85. The firm’s fifty day moving average price is $220.89 and its 200-day moving average price is $222.44. 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 stock has a market cap of $8.92 billion, a P/E ratio of 38.17, a PEG ratio of 1.96 and a beta of 1.18.

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, topping the consensus estimate of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.64 earnings per share. Equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.71%. Teleflex’s payout ratio is 27.04%.

Analysts Set New Price Targets

TFX has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Mizuho dropped their price target 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. Stephens lifted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.25.

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.