Teleflex Incorporated (NYSE:TFX) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 44.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,782 shares of the medical technology company's stock after selling 4,564 shares during the quarter. State of Tennessee Department of Treasury's holdings in Teleflex were worth $1,029,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Teleflex by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company's stock worth $202,161,000 after buying an additional 8,307 shares in the last quarter. Cooke & Bieler LP increased its stake in Teleflex by 22.1% in the 4th quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company's stock valued at $191,962,000 after purchasing an additional 195,150 shares in the last quarter. Invesco Ltd. boosted its position in Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock worth $190,188,000 after purchasing an additional 347,003 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Teleflex by 38.1% in 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 in the last quarter. Finally, Norges Bank acquired a new stake in Teleflex in the 4th quarter valued at about $100,328,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a report on Friday, February 28th. StockNews.com downgraded Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Morgan Stanley decreased their price objective on Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research note on Monday. Mizuho set a $155.00 target price on shares of Teleflex in a report on Wednesday, April 16th. Finally, Royal Bank of Canada cut their price objective on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a research report on Friday. One 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $164.63.

Teleflex Trading Down 2.9 %

Shares of TFX stock traded down $3.64 during mid-day trading on Monday, reaching $122.78. The company's stock had a trading volume of 711,045 shares, compared to its average volume of 638,570. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $5.69 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The company's 50 day simple moving average is $135.82 and its 200-day simple moving average is $169.89. Teleflex Incorporated has a 12-month low of $122.75 and a 12-month high of $249.91.

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

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's dividend payout ratio is currently 95.77%.

Teleflex Company 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.