Maryland State Retirement & Pension System Sells 6,633 Shares of Teleflex Incorporated $TFX

Maryland State Retirement & Pension System lessened its stake in shares of Teleflex Incorporated (NYSE:TFX) by 43.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,523 shares of the medical technology company’s stock after selling 6,633 shares during the period. Maryland State Retirement & Pension System’s holdings in Teleflex were worth $1,043,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Evergreen Capital Management LLC purchased a new position in shares of Teleflex during the 3rd quarter valued at about $383,000. Unified Investment Management increased its holdings in Teleflex by 15.5% in the 3rd quarter. Unified Investment Management now owns 4,239 shares of the medical technology company’s stock worth $519,000 after acquiring an additional 568 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Teleflex during the 3rd quarter valued at $38,000. Citizens Financial Group Inc. RI purchased a new position in shares of Teleflex during the 3rd quarter valued at $247,000. Finally, HB Wealth Management LLC purchased a new position in shares of Teleflex during the 3rd quarter valued at $240,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Trading Down 2.7%

Shares of TFX opened at $100.26 on Wednesday. The stock has a market capitalization of $4.43 billion, a PE ratio of -13.64, a P/E/G ratio of 1.34 and a beta of 0.93. The company’s fifty day moving average is $116.59 and its 200 day moving average is $120.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 2.57. Teleflex Incorporated has a fifty-two week low of $100.18 and a fifty-two week high of $185.94.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, November 6th. The medical technology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.29. Teleflex had a negative net margin of 10.28% and a positive return on equity of 15.64%. The business had revenue of $892.90 million during the quarter, compared to analysts’ expectations of $892.79 million. During the same period last year, the company posted $3.49 EPS. The business’s revenue was up 19.4% on a year-over-year basis. Teleflex has set its FY 2025 guidance at 14.000-14.200 EPS. Sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 1.4%. Teleflex’s payout ratio is currently -18.50%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFX. Wall Street Zen lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Truist Financial increased their target price on Teleflex from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Zacks Research downgraded Teleflex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $135.00 price target on shares of Teleflex in a report on Wednesday, December 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Teleflex currently has a consensus rating of “Reduce” and an average price target of $142.43.

About Teleflex

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company’s offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.