California State Teachers Retirement System Trims Holdings in Teleflex Incorporated (NYSE:TFX)

California State Teachers Retirement System reduced its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,528 shares of the medical technology company's stock after selling 6,859 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Teleflex worth $10,773,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TFX. Barclays PLC boosted its position in shares of Teleflex by 1.6% in the third quarter. Barclays PLC now owns 89,907 shares of the medical technology company's stock valued at $22,233,000 after acquiring an additional 1,426 shares during the period. Janney Montgomery Scott LLC increased its position in Teleflex by 9.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,723 shares of the medical technology company's stock valued at $2,976,000 after purchasing an additional 1,391 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock worth $61,000 after buying an additional 94 shares during the period. Blue Trust Inc. grew its position in shares of Teleflex by 51.0% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the medical technology company's stock worth $84,000 after buying an additional 159 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Teleflex in the 4th quarter worth about $64,000. 95.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TFX shares. Wells Fargo & Company reduced their target price on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Mizuho set a $155.00 target price on shares of Teleflex in a research report on Wednesday, April 16th. Piper Sandler reiterated a "neutral" rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Finally, Raymond James cut shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Teleflex currently has an average rating of "Hold" and an average price target of $164.63.

Teleflex Stock Performance

Shares of NYSE TFX traded up $1.38 during midday trading on Wednesday, hitting $122.82. 96,704 shares of the company's stock traded hands, compared to its average volume of 624,275. Teleflex Incorporated has a 1 year low of $118.70 and a 1 year high of $249.91. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The firm has a fifty day moving average of $128.83 and a 200 day moving average of $156.25.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.88 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $700.67 million during the quarter, compared to analyst estimates of $699.37 million. During the same quarter in the prior year, the firm earned $3.21 EPS. The business's revenue for the quarter was down 5.0% compared to the same quarter last year. On average, analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, May 20th. Teleflex's payout ratio is currently 42.90%.

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.