Norges Bank Buys Shares of 563,701 Teleflex Incorporated (NYSE:TFX)

Norges Bank acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 563,701 shares of the medical technology company's stock, valued at approximately $100,328,000. Norges Bank owned 1.21% of Teleflex at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. purchased a new position in shares of Teleflex in the fourth quarter valued at about $46,696,000. 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 valued at $74,990,000 after purchasing an additional 215,961 shares during the period. Cooke & Bieler LP lifted its holdings 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 worth $191,962,000 after purchasing an additional 195,150 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company's stock worth $1,329,704,000 after purchasing an additional 147,147 shares during the period. Finally, Boston Partners grew its holdings in Teleflex by 1,561.5% during the 4th quarter. Boston Partners now owns 148,042 shares of the medical technology company's stock valued at $26,351,000 after buying an additional 139,132 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on TFX. Royal Bank of Canada downgraded shares of Teleflex from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of Teleflex from $214.00 to $146.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Bank of America lowered Teleflex from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. Morgan Stanley decreased their target price on Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Raymond James cut Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $182.63.

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Teleflex Trading Down 4.4 %

Shares of TFX stock traded down $6.06 during trading hours on Friday, reaching $131.93. 1,745,294 shares of the stock were exchanged, compared to its average volume of 593,128. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. Teleflex Incorporated has a 12-month low of $128.55 and a 12-month high of $249.91. The company's 50-day moving average price is $155.84 and its 200-day moving average price is $187.82. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts' consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million for the quarter, compared to analysts' expectations of $813.24 million. As a group, equities analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, March 7th. Teleflex's dividend payout ratio is currently 95.77%.

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.