Corient Private Wealth LLC Reduces Stake in Teleflex Incorporated (NYSE:TFX)

Corient Private Wealth LLC lessened its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 64.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,450 shares of the medical technology company's stock after selling 4,355 shares during the quarter. Corient Private Wealth LLC's holdings in Teleflex were worth $436,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vontobel Holding Ltd. boosted its stake in shares of Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after buying an additional 250 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Teleflex by 14.3% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of 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 purchasing an additional 5,322 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Teleflex in the 4th quarter valued at $729,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Teleflex by 35.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock valued at $1,053,000 after purchasing an additional 1,527 shares during the period. 95.62% of the stock is owned by hedge funds and other institutional investors.

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Teleflex Trading Down 0.2 %

Shares of NYSE:TFX traded down $0.28 during midday trading on Wednesday, reaching $140.02. 73,527 shares of the company's stock were exchanged, compared to its average volume of 1,048,520. The firm's 50 day simple moving average is $157.48 and its two-hundred day simple moving average is $188.50. 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 fifty-two week low of $128.55 and a fifty-two week high of $249.90. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.73 and a beta of 1.21.

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

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's dividend payout ratio is presently 95.77%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Teleflex from $214.00 to $146.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. StockNews.com cut Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Morgan Stanley cut their price target on shares of Teleflex from $275.00 to $191.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Bank of America lowered shares of Teleflex from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. Finally, Truist Financial reduced their price target on shares of Teleflex from $200.00 to $149.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Teleflex has an average rating of "Hold" and a consensus target price of $182.63.

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.