Teleflex Incorporated (NYSE:TFX) Position Cut by Swiss National Bank

Swiss National Bank reduced its holdings in Teleflex Incorporated (NYSE:TFX) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,100 shares of the medical technology company’s stock after selling 6,200 shares during the quarter. Swiss National Bank’s holdings in Teleflex were worth $23,689,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock valued at $1,329,704,000 after acquiring an additional 147,147 shares during the last quarter. State Street Corp boosted its position in Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after acquiring an additional 21,291 shares during the period. Geode Capital Management LLC increased its stake in Teleflex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock valued at $278,676,000 after buying an additional 5,746 shares during the period. Cooke & Bieler LP raised its holdings in shares of Teleflex by 22.1% during the fourth quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company’s stock worth $191,962,000 after acquiring an additional 195,150 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Teleflex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock worth $105,749,000 after purchasing an additional 1,884 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TFX. Morgan Stanley reduced their price target on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Piper Sandler restated a “neutral” rating and set a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Wednesday, March 12th. Finally, Bank of America lowered shares of Teleflex from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $235.00 to $140.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $182.63.

Teleflex Stock Performance

Shares of TFX stock opened at $139.60 on Tuesday. The firm has a market cap of $6.47 billion, a PE ratio of 27.75, a P/E/G ratio of 1.73 and a beta of 1.21. The company’s fifty day simple moving average is $166.18 and its 200-day simple moving average is $196.64. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 12 month low of $128.55 and a 12 month high of $249.91.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. The firm had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Equities research analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were given a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. Teleflex’s payout ratio is presently 95.77%.

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.