Legal & General Group Plc Sells 73,272 Shares of Teleflex Incorporated (NYSE:TFX)

Legal & General Group Plc lessened its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,639 shares of the medical technology company's stock after selling 73,272 shares during the quarter. Legal & General Group Plc owned approximately 0.49% of Teleflex worth $40,693,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. HighTower Advisors LLC lifted its stake in Teleflex by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company's stock valued at $986,000 after acquiring an additional 66 shares in the last quarter. Hengehold Capital Management LLC lifted its position in shares of Teleflex by 7.3% during the fourth quarter. Hengehold Capital Management LLC now owns 1,289 shares of the medical technology company's stock valued at $229,000 after purchasing an additional 88 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Teleflex by 38.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock worth $61,000 after purchasing an additional 94 shares during the last quarter. Isthmus Partners LLC grew its position in Teleflex by 7.3% in the 4th quarter. Isthmus Partners LLC now owns 1,535 shares of the medical technology company's stock worth $273,000 after purchasing an additional 105 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Teleflex by 2.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,991 shares of the medical technology company's stock valued at $888,000 after buying an additional 118 shares during the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

Teleflex stock traded up $1.36 during midday trading on Friday, reaching $129.57. 476,216 shares of the stock were exchanged, compared to its average volume of 620,618. The company's fifty day moving average is $144.52 and its 200-day moving average is $178.76. The firm has a market cap of $6.01 billion, a PE ratio of 25.76, a PEG ratio of 1.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a 52 week low of $124.66 and a 52 week high of $249.91.

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

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 1.05%. Teleflex's payout ratio is presently 95.77%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TFX. Raymond James lowered Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. StockNews.com cut Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler restated a "neutral" rating and set a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Bank of America cut 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 note on Tuesday, March 4th. Finally, Truist Financial decreased their price target on shares of Teleflex from $149.00 to $140.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Teleflex presently has an average rating of "Hold" and a consensus price target of $169.63.

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.