National Bank of Canada FI decreased its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,507 shares of the medical technology company's stock after selling 2,538 shares during the period. National Bank of Canada FI's holdings in Teleflex were worth $3,828,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of TFX. Rodgers Brothers Inc. grew its stake in shares of Teleflex by 12.7% in the fourth quarter. Rodgers Brothers Inc. now owns 3,740 shares of the medical technology company's stock valued at $666,000 after buying an additional 420 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Teleflex in the 4th quarter valued at about $1,094,000. Wellington Management Group LLP increased its stake in shares of Teleflex by 42.0% during the 4th quarter. Wellington Management Group LLP now owns 223,438 shares of the medical technology company's stock worth $39,767,000 after purchasing an additional 66,075 shares during the last quarter. Allstate Corp bought a new stake in shares of Teleflex in the 4th quarter valued at about $253,000. Finally, Heartland Advisors Inc. raised its holdings in shares of 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 purchasing an additional 33,018 shares during the period. Institutional investors and hedge funds own 95.62% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Bank of America downgraded Teleflex from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. Raymond James downgraded 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 report on Thursday, February 27th. Finally, Royal Bank of Canada cut shares of Teleflex from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $220.00 to $155.00 in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $181.50.
Check Out Our Latest Stock Analysis on Teleflex
Teleflex Stock Performance
NYSE:TFX traded up $0.74 during mid-day trading on Friday, reaching $129.81. 642,249 shares of the company's stock were exchanged, compared to its average volume of 614,950. Teleflex Incorporated has a one year low of $124.66 and a one year high of $249.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The business's fifty day simple moving average is $148.00 and its two-hundred day simple moving average is $181.53. The firm has a market capitalization of $6.02 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19.
Teleflex (NYSE:TFX - Get Free Report) last announced its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping the consensus estimate of $3.86 by $0.03. The company had revenue of $795.40 million for the quarter, compared to analysts' expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.
Teleflex Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.05%. Teleflex's payout ratio is 95.77%.
About Teleflex
(
Free Report)
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.
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