California Public Employees Retirement System Sells 4,245 Shares of Teleflex Incorporated (NYSE:TFX)

California Public Employees Retirement System decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,206 shares of the medical technology company’s stock after selling 4,245 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Teleflex worth $13,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in shares of Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock valued at $248,000 after buying an additional 250 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Teleflex by 14.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after purchasing an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Teleflex by 5.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock worth $19,263,000 after purchasing an additional 5,322 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Teleflex during the fourth quarter valued at approximately $729,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Teleflex by 35.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company’s stock worth $1,053,000 after buying an additional 1,527 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on TFX shares. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley dropped their target price on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Truist Financial cut their price objective on Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Finally, Bank of America lowered Teleflex from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $182.63.

Teleflex Stock Down 4.4 %

Shares of NYSE TFX opened at $131.93 on Friday. Teleflex Incorporated has a 12 month low of $128.55 and a 12 month high of $249.91. The firm has a market capitalization of $6.12 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The firm has a fifty day simple moving average of $154.86 and a two-hundred day simple moving average of $186.65. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

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

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

About Teleflex

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.