Assenagon Asset Management S.A. Lowers Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Assenagon Asset Management S.A. trimmed its position in Teleflex Incorporated (NYSE:TFXFree Report) by 31.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,438 shares of the medical technology company’s stock after selling 4,845 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Teleflex were worth $2,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley raised its stake in Teleflex by 535.8% in the fourth quarter. Morgan Stanley now owns 2,691,192 shares of the medical technology company’s stock valued at $671,803,000 after purchasing an additional 2,267,889 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Teleflex by 50.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,833,777 shares of the medical technology company’s stock valued at $464,515,000 after purchasing an additional 612,019 shares in the last quarter. Norges Bank purchased a new stake in Teleflex in the fourth quarter valued at approximately $104,344,000. T. Rowe Price Investment Management Inc. raised its stake in Teleflex by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,633,473 shares of the medical technology company’s stock valued at $2,155,174,000 after purchasing an additional 181,393 shares in the last quarter. Finally, Eaton Vance Management raised its stake in Teleflex by 141.3% in the first quarter. Eaton Vance Management now owns 284,639 shares of the medical technology company’s stock valued at $100,999,000 after purchasing an additional 166,682 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFX has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Truist Financial reduced their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a research report on Friday, February 23rd. Raymond James increased their price target on shares of Teleflex from $227.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Finally, Royal Bank of Canada reduced their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.56.

Get Our Latest Report on TFX

Insider Activity at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.41% of the stock is currently owned by company insiders.

Teleflex Stock Down 1.2 %

Shares of Teleflex stock opened at $214.74 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $276.43. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.13 and a beta of 1.11. The company’s 50 day moving average price is $233.60 and its 200-day moving average price is $224.39.

Teleflex (NYSE:TFXGet Free Report) last issued its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.12. The firm had revenue of $773.90 million for the quarter, compared to analysts’ expectations of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.52 earnings per share. Equities research analysts forecast that Teleflex Incorporated will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio (DPR) is currently 18.06%.

Teleflex Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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