Assenagon Asset Management S.A. Trims Stake in Teleflex Incorporated (NYSE:TFX)

Assenagon Asset Management S.A. reduced its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 62.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,016 shares of the medical technology company's stock after selling 75,295 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Teleflex worth $8,012,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TFX. Oak Thistle LLC grew its stake in Teleflex by 243.9% in the 4th quarter. Oak Thistle LLC now owns 10,695 shares of the medical technology company's stock valued at $1,903,000 after acquiring an additional 7,585 shares during the period. Mendota Financial Group LLC purchased a new position in Teleflex during the fourth quarter valued at $124,000. Bridge Creek Capital Management LLC lifted its holdings in Teleflex by 1.7% during the fourth quarter. Bridge Creek Capital Management LLC now owns 16,730 shares of the medical technology company's stock valued at $2,978,000 after purchasing an additional 285 shares in the last quarter. Czech National Bank grew its position in shares of Teleflex by 4.9% in the fourth quarter. Czech National Bank now owns 10,070 shares of the medical technology company's stock valued at $1,792,000 after purchasing an additional 472 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Teleflex by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,305 shares of the medical technology company's stock worth $588,000 after purchasing an additional 128 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Mizuho decreased their target price on Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research note on Monday, December 16th. StockNews.com raised Teleflex from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th. Finally, Truist Financial lowered their target price on shares of Teleflex from $227.00 to $200.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.50.

Teleflex Price Performance

Shares of NYSE:TFX traded up $0.11 during midday trading on Monday, hitting $181.56. The company had a trading volume of 589,843 shares, compared to its average volume of 391,622. The business's 50-day simple moving average is $184.14 and its 200-day simple moving average is $215.49. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a twelve month low of $171.69 and a twelve month high of $256.85.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the previous year, the firm earned $3.64 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.75%. Teleflex's payout ratio is 27.04%.

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.