KLP Kapitalforvaltning AS Has $1.24 Million Position in Teleflex Incorporated (NYSE:TFX)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Teleflex Incorporated by 39.2%, owning 9,000 shares valued at $1.24 million after selling 5,800 shares in the first quarter.
• After various adjustments, Teleflex is currently rated as a "Hold" by the majority of analysts, with an average target price decreasing to $159.63.
• Teleflex announced a quarterly dividend of $0.34, representing a 1.16% dividend yield with a payout ratio of 42.90%.

KLP Kapitalforvaltning AS reduced its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 39.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the medical technology company's stock after selling 5,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Teleflex were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TFX. T. Rowe Price Investment Management Inc. increased its holdings in Teleflex by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock valued at $1,098,693,000 after purchasing an additional 261,279 shares in the last quarter. Geode Capital Management LLC boosted its stake in Teleflex by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company's stock valued at $202,161,000 after acquiring an additional 8,307 shares during the period. Invesco Ltd. boosted its stake in Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock valued at $190,188,000 after acquiring an additional 347,003 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Teleflex by 38.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company's stock valued at $105,102,000 after buying an additional 162,950 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Teleflex during the fourth quarter valued at approximately $100,328,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Stock Down 1.3%

TFX stock traded down $1.55 during midday trading on Monday, hitting $115.64. The company's stock had a trading volume of 395,730 shares, compared to its average volume of 562,191. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32. Teleflex Incorporated has a twelve month low of $108.90 and a twelve month high of $249.90. The company's fifty day moving average price is $119.49 and its 200 day moving average price is $138.74. The stock has a market capitalization of $5.11 billion, a P/E ratio of 36.48, a PEG ratio of 1.84 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.03. The company had revenue of $700.67 million for the quarter, compared to analyst estimates of $699.37 million. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. Teleflex's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 EPS. As a group, equities research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Tuesday, May 20th. Teleflex's payout ratio is 42.90%.

Wall Street Analyst Weigh In

TFX has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company lowered their price target on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Truist Financial decreased their price objective on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. Wall Street Zen cut shares of Teleflex from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, Royal Bank Of Canada set a $130.00 price target on shares of Teleflex and gave the stock a "sector perform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $159.63.

Teleflex 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.