Prudential Financial Inc. Sells 3,508 Shares of Teleflex Incorporated (NYSE:TFX)

Prudential Financial Inc. lowered its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 12.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 24,887 shares of the medical technology company's stock after selling 3,508 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Teleflex worth $4,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFX. Janus Henderson Group PLC boosted its holdings in Teleflex by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company's stock worth $1,329,704,000 after acquiring an additional 147,147 shares during the last quarter. State Street Corp boosted its holdings in Teleflex by 1.0% during the third quarter. State Street Corp now owns 2,057,080 shares of the medical technology company's stock worth $508,757,000 after purchasing an additional 21,291 shares during the last quarter. Geode Capital Management LLC increased its stake in Teleflex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company's stock valued at $278,676,000 after buying an additional 5,746 shares during the last quarter. Cooke & Bieler LP lifted its position in shares of Teleflex by 22.1% during the 4th quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company's stock worth $191,962,000 after buying an additional 195,150 shares in the last quarter. Finally, Magnetar Financial LLC boosted its stake in shares of Teleflex by 105.2% in the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company's stock worth $74,990,000 after buying an additional 215,961 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

TFX has been the topic of a number of recent analyst reports. Bank of America cut Teleflex from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. Piper Sandler reissued a "neutral" rating and issued a $140.00 price target (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. 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 report on Friday, February 28th. Raymond James cut shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Finally, Citizens Jmp downgraded Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. 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 company. According to data from MarketBeat, Teleflex has an average rating of "Hold" and an average price target of $182.63.

Teleflex Trading Down 3.9 %

Shares of Teleflex stock traded down $5.39 on Friday, hitting $132.60. The stock had a trading volume of 841,322 shares, compared to its average volume of 589,828. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a one year low of $128.55 and a one year high of $249.91. The stock's 50-day simple moving average is $155.84 and its two-hundred day simple moving average is $187.82. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping 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 company had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. As a group, sell-side analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's dividend payout ratio (DPR) is currently 95.77%.

Teleflex Company 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.