KLP Kapitalforvaltning AS Invests $2.63 Million in Teleflex Incorporated (NYSE:TFX)

KLP Kapitalforvaltning AS bought a new position in Teleflex Incorporated (NYSE:TFX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,800 shares of the medical technology company's stock, valued at approximately $2,634,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC increased its position in shares of Teleflex by 1.7% in the third quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company's stock worth $986,000 after purchasing an additional 66 shares during the last quarter. Hengehold Capital Management LLC increased its holdings in shares of Teleflex by 7.3% in the 4th quarter. Hengehold Capital Management LLC now owns 1,289 shares of the medical technology company's stock worth $229,000 after buying an additional 88 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Teleflex by 38.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after buying an additional 94 shares in the last quarter. Isthmus Partners LLC lifted its holdings in shares of Teleflex by 7.3% during the 4th quarter. Isthmus Partners LLC now owns 1,535 shares of the medical technology company's stock worth $273,000 after acquiring an additional 105 shares during the last quarter. Finally, Commerce Bank grew its position in Teleflex by 6.2% in the third quarter. Commerce Bank now owns 1,827 shares of the medical technology company's stock worth $452,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

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Teleflex Trading Down 1.2 %

Shares of TFX traded down $1.61 during mid-day trading on Friday, hitting $137.76. 776,408 shares of the company's stock traded hands, compared to its average volume of 579,236. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.39 billion, a P/E ratio of 27.39, a PEG ratio of 1.73 and a beta of 1.21. The business's 50-day moving average price is $159.20 and its 200-day moving average price is $189.98. Teleflex Incorporated has a 1 year low of $128.55 and a 1 year high of $249.91.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. 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 declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were paid a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 0.99%. Teleflex's payout ratio is 95.77%.

Analysts Set New Price Targets

Several brokerages have issued reports on TFX. Morgan Stanley cut their target price on Teleflex from $275.00 to $191.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Raymond James lowered shares of Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Citizens Jmp downgraded shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Royal Bank of Canada cut Teleflex from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $220.00 to $155.00 in a research note on Friday, February 28th. Finally, Truist Financial lowered their target price on Teleflex from $200.00 to $149.00 and set a "hold" rating for the company in a research note on Monday, March 3rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.