Swiss National Bank Trims Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Swiss National Bank lessened its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,000 shares of the medical technology company's stock after selling 4,100 shares during the period. Swiss National Bank owned about 0.31% of Teleflex worth $36,653,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TFX. New York Life Investment Management LLC increased its holdings in Teleflex by 63.6% in the 4th quarter. New York Life Investment Management LLC now owns 12,139 shares of the medical technology company's stock valued at $3,027,000 after buying an additional 4,717 shares during the period. Victory Capital Management Inc. increased its stake in Teleflex by 47.8% in the fourth quarter. Victory Capital Management Inc. now owns 21,865 shares of the medical technology company's stock valued at $5,452,000 after acquiring an additional 7,070 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in Teleflex during the fourth quarter valued at approximately $231,000. Mountain Pacific Investment Advisers Inc. ID boosted its holdings in shares of Teleflex by 1.1% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 78,958 shares of the medical technology company's stock valued at $19,687,000 after purchasing an additional 835 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Teleflex by 22.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,366 shares of the medical technology company's stock valued at $341,000 after purchasing an additional 249 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFX. Royal Bank of Canada dropped their target price on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, February 23rd. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a report on Friday, May 3rd. StockNews.com downgraded Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. Truist Financial reduced their price target on Teleflex from $240.00 to $219.00 and set a "hold" rating on the stock in a report on Friday, May 3rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Teleflex currently has an average rating of "Moderate Buy" and a consensus target price of $261.75.

Insider Buying and Selling at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.43% of the company's stock.

Teleflex Trading Down 0.5 %

TFX traded down $1.07 during trading on Wednesday, reaching $200.45. 443,910 shares of the stock traded hands, compared to its average volume of 288,369. The stock's 50-day moving average is $215.76 and its 200 day moving average is $226.59. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $262.97. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $9.44 billion, a PE ratio of 32.17, a P/E/G ratio of 1.95 and a beta of 1.13.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business had revenue of $737.80 million during the quarter, compared to the consensus estimate of $726.85 million. During the same period in the previous year, the company posted $3.09 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that Teleflex Incorporated will post 13.72 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 14th. Teleflex's dividend payout ratio (DPR) is currently 21.83%.

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.