Should You Sell Teleflex Incorporated (TFX)?

Baron Funds, an investment management company, released its “Baron Asset Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (institutional shares) declined 2.07% compared to a 0.65% decline for the Russell Midcap Growth Index. Differences in sector weights led to the underperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds discussed stocks like Teleflex Incorporated (NYSE:TFX) in the Q3 2022 investor letter. Headquartered in Wayne, Pennsylvania, Teleflex Incorporated (NYSE:TFX) is a medical device company. On October 21, 2022, Teleflex Incorporated (NYSE:TFX) stock closed at $197.67 per share. One-month return of Teleflex Incorporated (NYSE:TFX) was -4.73% and its shares lost 47.50% of their value over the last 52 weeks. Teleflex Incorporated (NYSE:TFX) has a market capitalization of $9.272 billion.

Baron Funds made the following comment about Teleflex Incorporated (NYSE:TFX) in its Q3 2022 investor letter:

“We reduced our position in Teleflex Incorporated (NYSE:TFX) as the company continued to report weak results, stemming from the sluggish recovery in hospital surgery procedures and disappointing results in the company’s Urolift segment, which provides a treatment for enlarged prostates.”

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Teleflex Incorporated (NYSE:TFX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Teleflex Incorporated (NYSE:TFX) at the end of the second quarter, which was 36 in the previous quarter.

We discussed Teleflex Incorporated (NYSE:TFX) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.