California Public Employees Retirement System Lowers Stock Holdings in Teleflex Incorporated (NYSE:TFX)

California Public Employees Retirement System lowered its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,206 shares of the medical technology company's stock after selling 4,245 shares during the period. California Public Employees Retirement System owned 0.17% of Teleflex worth $13,919,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TFX. Allstate Corp bought a new stake in Teleflex during the 4th quarter worth about $253,000. Heartland Advisors Inc. grew its stake in Teleflex by 176.1% in the 4th quarter. Heartland Advisors Inc. now owns 51,764 shares of the medical technology company's stock valued at $9,213,000 after buying an additional 33,018 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Teleflex by 4.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 32,027 shares of the medical technology company's stock valued at $5,700,000 after purchasing an additional 1,299 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Teleflex by 0.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 14,140 shares of the medical technology company's stock worth $2,517,000 after acquiring an additional 125 shares during the period. Finally, Norges Bank bought a new stake in shares of Teleflex during the 4th quarter worth approximately $100,328,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citizens Jmp downgraded shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. Royal Bank of Canada lowered shares of Teleflex from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $220.00 to $155.00 in a research note on Friday, February 28th. Morgan Stanley dropped their price target on shares of Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Bank of America downgraded shares of Teleflex from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $182.63.

Teleflex Stock Down 4.9 %

Teleflex stock traded down $6.60 during trading hours on Thursday, reaching $128.56. The stock had a trading volume of 100,989 shares, compared to its average volume of 607,041. Teleflex Incorporated has a 52 week low of $124.66 and a 52 week high of $249.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.73 and a beta of 1.19. The business's 50 day moving average price is $149.82 and its 200-day moving average price is $183.14.

Teleflex (NYSE:TFX - Get Free Report) last announced its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (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 analyst estimates of $813.24 million. Sell-side analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's dividend payout ratio (DPR) is 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.