State of Michigan Retirement System Has $2.25 Million Position in Teleflex Incorporated (NYSE:TFX)

State of Michigan Retirement System trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,617 shares of the medical technology company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Teleflex were worth $2,246,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TFX. Vontobel Holding Ltd. raised its holdings in Teleflex by 21.9% during the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock worth $248,000 after acquiring an additional 250 shares in the last quarter. Simplify Asset Management Inc. bought a new stake in shares of Teleflex during the 3rd quarter worth approximately $4,800,000. JPMorgan Chase & Co. boosted its holdings in shares of Teleflex by 14.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after buying an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Teleflex by 5.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock valued at $19,263,000 after buying an additional 5,322 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in Teleflex during the fourth quarter worth $729,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TFX. Raymond James cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Truist Financial lowered their price target on Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley cut their price objective on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Teleflex has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Trading Up 2.9 %

Shares of NYSE:TFX opened at $140.24 on Friday. The business’s 50 day simple moving average is $171.13 and its 200 day simple moving average is $201.30. Teleflex Incorporated has a 1 year low of $128.55 and a 1 year high of $249.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The company has a market capitalization of $6.50 billion, a P/E ratio of 27.88, a P/E/G ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX) last released 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. The company had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is 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.