Nuveen Asset Management LLC Decreases Stake in Teleflex Incorporated (NYSE:TFX)

Nuveen Asset Management LLC lessened its stake in Teleflex Incorporated (NYSE:TFX – Get Rating) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 105,748 shares of the medical technology company’s stock after selling 2,457 shares during the quarter. Nuveen Asset Management LLC’s holdings in Teleflex were worth $21,304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AXA S.A. acquired a new stake in shares of Teleflex during the 3rd quarter worth about $680,000. Aviva PLC raised its position in shares of Teleflex by 46.3% during the 3rd quarter. Aviva PLC now owns 16,323 shares of the medical technology company’s stock worth $3,288,000 after acquiring an additional 5,162 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Teleflex during the 3rd quarter worth about $112,000. Hsbc Holdings PLC raised its position in shares of Teleflex by 67.0% during the 3rd quarter. Hsbc Holdings PLC now owns 85,667 shares of the medical technology company’s stock worth $17,486,000 after acquiring an additional 34,360 shares in the last quarter. Finally, Prudential PLC raised its position in shares of Teleflex by 9.2% during the 3rd quarter. Prudential PLC now owns 1,093 shares of the medical technology company’s stock worth $220,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial cut their target price on Teleflex from $260.00 to $250.00 and set a “hold” rating on the stock in a research report on Monday. Morgan Stanley raised their target price on Teleflex from $236.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Friday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $291.00 price target on shares of Teleflex in a research report on Friday, February 24th. Stephens lifted their price target on Teleflex from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 28th. Finally, Raymond James lifted their price target on Teleflex from $231.00 to $259.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Teleflex presently has a consensus rating of “Hold” and a consensus price target of $271.69.

Teleflex Trading Up 1.0 %

Shares of TFX stock opened at $235.67 on Friday. The business’s 50 day moving average is $245.61 and its two-hundred day moving average is $229.93. Teleflex Incorporated has a twelve month low of $182.65 and a twelve month high of $356.72. The company has a market capitalization of $11.06 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 2.45 and a beta of 0.98. The company has a current ratio of 2.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.40.

Teleflex (NYSE:TFX – Get Rating) last announced its earnings results on Thursday, February 23rd. The medical technology company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.08. Teleflex had a return on equity of 15.87% and a net margin of 13.01%. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $760.29 million. During the same period last year, the business posted $3.60 EPS. The company’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Teleflex Incorporated will post 13.31 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. Teleflex’s dividend payout ratio (DPR) is currently 17.71%.

About Teleflex

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Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.