Assenagon Asset Management S.A. Sells 22,729 Shares of Teleflex Incorporated (NYSE:TFX)

Assenagon Asset Management S.A. reduced its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 50.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,287 shares of the medical technology company's stock after selling 22,729 shares during the period. Assenagon Asset Management S.A.'s holdings in Teleflex were worth $3,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Teleflex during the 4th quarter worth $100,328,000. Invesco Ltd. raised its stake in Teleflex by 48.1% during the 4th quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock worth $190,188,000 after buying an additional 347,003 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in Teleflex during the 4th quarter worth $46,696,000. T. Rowe Price Investment Management Inc. raised its stake in Teleflex by 4.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock worth $1,098,693,000 after buying an additional 261,279 shares during the period. Finally, Magnetar Financial LLC raised its stake in Teleflex by 105.2% during the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company's stock worth $74,990,000 after buying an additional 215,961 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TFX shares. Wells Fargo & Company dropped their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Piper Sandler reissued 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. Citizens Jmp downgraded Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen cut Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Teleflex currently has a consensus rating of "Hold" and an average target price of $164.63.

Teleflex Stock Up 0.2%

Shares of NYSE TFX traded up $0.20 during trading on Thursday, hitting $117.73. 556,011 shares of the company traded hands, compared to its average volume of 628,032. The business's fifty day moving average is $125.67 and its 200 day moving average is $150.62. Teleflex Incorporated has a fifty-two week low of $117.04 and a fifty-two week high of $249.91. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 1.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28.

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

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex's dividend payout ratio is currently 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.