Clearbridge Investments LLC Lowers Position in Teleflex Incorporated (NYSE:TFX)

Clearbridge Investments LLC cut its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,461 shares of the medical technology company's stock after selling 1,822 shares during the period. Clearbridge Investments LLC owned about 0.20% of Teleflex worth $16,812,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TFX. Vontobel Holding Ltd. lifted its holdings in shares of Teleflex by 21.9% during the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after purchasing an additional 250 shares during the period. JPMorgan Chase & Co. raised its position in Teleflex by 14.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company's stock worth $38,374,000 after purchasing an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Teleflex by 5.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock worth $19,263,000 after buying an additional 5,322 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Teleflex in the fourth quarter valued at about $729,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Teleflex by 35.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock worth $1,053,000 after acquiring an additional 1,527 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

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Analyst Ratings Changes

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

Teleflex Stock Down 0.7 %

Teleflex stock traded down $0.98 during midday trading on Monday, reaching $130.95. The stock had a trading volume of 1,412,666 shares, compared to its average volume of 598,861. The company has a fifty day moving average price of $153.81 and a two-hundred day moving average price of $185.45. The company has a market capitalization of $6.07 billion, a P/E ratio of 26.03, a PEG ratio of 1.73 and a beta of 1.19. 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 Incorporated has a 12 month low of $127.18 and a 12 month high of $249.91.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $813.24 million. As a group, equities analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.04%. The ex-dividend date was Friday, March 7th. Teleflex's dividend payout ratio is currently 95.77%.

About Teleflex

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.