Ameriprise Financial Inc. Grows Stake in Teleflex Incorporated (NYSE:TFX)

Ameriprise Financial Inc. increased its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 62.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,660 shares of the medical technology company's stock after buying an additional 9,094 shares during the period. Ameriprise Financial Inc. owned about 0.05% of Teleflex worth $4,211,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Teleflex during the fourth quarter valued at about $29,000. Avior Wealth Management LLC raised its position in Teleflex by 81.2% during the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock valued at $50,000 after acquiring an additional 125 shares in the last quarter. IFP Advisors Inc raised its position in Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after acquiring an additional 217 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Teleflex by 38.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after acquiring an additional 94 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Teleflex in the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Stock Down 1.5%

Shares of TFX traded down $1.84 during mid-day trading on Wednesday, reaching $121.12. The company's stock had a trading volume of 284,817 shares, compared to its average volume of 632,626. The stock has a market cap of $5.35 billion, a PE ratio of 24.08, 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 current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a 12-month low of $119.08 and a 12-month high of $249.91. The company's 50 day moving average is $130.74 and its 200 day moving average is $158.78.

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

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.12%. Teleflex's payout ratio is 42.90%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler restated a "neutral" rating and issued a $140.00 price objective (down from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Mizuho set a $155.00 target price on Teleflex in a research report on Wednesday, April 16th. Truist Financial cut their price objective on Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company cut their price objective on Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Raymond James downgraded Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $164.63.

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.