Teleflex Incorporated (NYSE:TFX) Stock Position Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 386.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,734 shares of the medical technology company's stock after buying an additional 20,439 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Teleflex worth $3,556,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TFX. Vontobel Holding Ltd. boosted its position in Teleflex by 21.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after purchasing an additional 250 shares during the period. CX Institutional purchased a new stake in shares of Teleflex in the first quarter worth about $105,000. QRG Capital Management Inc. boosted its position in shares of Teleflex by 35.9% in the first quarter. QRG Capital Management Inc. now owns 2,959 shares of the medical technology company's stock worth $409,000 after buying an additional 781 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Teleflex in the fourth quarter valued at about $10,342,000. Finally, IFP Advisors Inc raised its holdings in shares of Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock valued at $55,000 after buying an additional 217 shares during the period. 95.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFX. Mizuho set a $155.00 target price on shares of Teleflex in a research report on Wednesday, April 16th. Morgan Stanley decreased their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Raymond James Financial downgraded Teleflex from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. 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, Citizens Jmp downgraded Teleflex from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Teleflex has an average rating of "Hold" and a consensus target price of $164.63.

Teleflex Stock Performance

NYSE:TFX traded up $2.10 during trading hours on Tuesday, reaching $120.16. 458,141 shares of the stock were exchanged, compared to its average volume of 628,509. The stock has a market capitalization of $5.31 billion, a P/E ratio of 37.91, a P/E/G ratio of 1.85 and a beta of 1.10. The firm has a 50 day simple moving average of $125.16 and a 200-day simple moving average of $149.16. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. Teleflex Incorporated has a 52 week low of $115.94 and a 52 week high of $249.91.

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

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a $0.34 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $1.36 annualized dividend and a yield of 1.13%. Teleflex's dividend payout ratio is presently 42.90%.

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.