Prudential PLC Acquires 3,604 Shares of Teleflex Incorporated (NYSE:TFX)

Prudential PLC boosted its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 50.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,703 shares of the medical technology company's stock after purchasing an additional 3,604 shares during the period. Prudential PLC's holdings in Teleflex were worth $1,905,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in Teleflex during the 4th quarter worth approximately $29,000. Avior Wealth Management LLC grew its stake in shares of Teleflex by 81.2% during the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock worth $50,000 after buying an additional 125 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company's stock worth $55,000 after buying an additional 217 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after acquiring an additional 94 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Teleflex during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TFX shares. Bank of America cut Teleflex from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Wells Fargo & Company dropped 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. Piper Sandler reissued a "neutral" rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Raymond James downgraded shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada cut shares of Teleflex from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $220.00 to $155.00 in a research note on Friday, February 28th. One equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $181.50.

Teleflex Stock Performance

Shares of Teleflex stock traded down $2.21 during mid-day trading on Friday, hitting $126.87. 144,007 shares of the stock were exchanged, compared to its average volume of 611,283. Teleflex Incorporated has a 12 month low of $124.66 and a 12 month high of $249.91. The company has a market capitalization of $5.88 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.73 and a beta of 1.19. The company has a 50-day simple moving average of $148.90 and a 200 day simple moving average of $182.33. 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 (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.86 by $0.03. The business had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Sell-side analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared 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. This represents a $1.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, March 7th. Teleflex's dividend payout ratio is presently 95.77%.

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.