Teleflex Incorporated $TFX Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in Teleflex Incorporated (NYSE:TFX) by 12.7% in the third quarter, HoldingsChannel reports. The firm owned 124,448 shares of the medical technology company’s stock after selling 18,159 shares during the period. Pictet Asset Management Holding SA’s holdings in Teleflex were worth $15,561,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CenterBook Partners LP bought a new position in shares of Teleflex during the 3rd quarter worth approximately $247,000. Heritage Family Offices LLP acquired a new stake in shares of Teleflex during the 3rd quarter worth approximately $39,000. Villanova Investment Management Co grew its position in shares of Teleflex by 6.4% during the 3rd quarter. Villanova Investment Management Co now owns 14,131 shares of the medical technology company’s stock worth $1,767,000 after buying an additional 850 shares during the period. Next Level Wealth Planning LLC bought a new stake in shares of Teleflex in the 3rd quarter valued at $38,000. Finally, State of Wyoming bought a new stake in shares of Teleflex in the 3rd quarter valued at $269,000. 95.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFX has been the topic of a number of research reports. Zacks Research downgraded shares of Teleflex from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. Wells Fargo & Company raised their price target on shares of Teleflex from $138.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. UBS Group raised their price target on shares of Teleflex from $145.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Teleflex from a “sell (d)” rating to a “hold (c)” rating in a report on Monday. Finally, Mizuho set a $160.00 price objective on shares of Teleflex in a report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.30.

Teleflex Trading Down 1.9%

Shares of Teleflex stock opened at $153.40 on Friday. 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 stock has a 50 day moving average price of $133.29 and a two-hundred day moving average price of $127.12. The stock has a market capitalization of $6.08 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.05 and a beta of 0.85.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.90 by $0.73. Teleflex had a return on equity of 10.57% and a net margin of 13.51%. The firm had revenue of $567.80 million during the quarter, compared to the consensus estimate of $565.52 million. During the same quarter in the previous year, the company posted $3.67 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts anticipate that Teleflex Incorporated will post 7.67 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 16th will be given a $0.34 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.36 annualized dividend and a yield of 0.9%. Teleflex’s dividend payout ratio (DPR) is presently 16.52%.

About Teleflex

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.