T. Rowe Price Investment Management Inc. Has $1.10 Billion Stock Position in Teleflex Incorporated (NYSE:TFX)

T. Rowe Price Investment Management Inc. raised its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,173,121 shares of the medical technology company's stock after acquiring an additional 261,279 shares during the period. T. Rowe Price Investment Management Inc. owned about 13.29% of Teleflex worth $1,098,693,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Teleflex during the 4th quarter worth approximately $100,328,000. Invesco Ltd. grew its holdings in shares of Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock worth $190,188,000 after purchasing an additional 347,003 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Teleflex in the fourth quarter valued at $46,696,000. Magnetar Financial LLC raised its holdings in shares of Teleflex by 105.2% in the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company's stock valued at $74,990,000 after buying an additional 215,961 shares during the last quarter. Finally, Cooke & Bieler LP lifted its position in 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. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Raymond James downgraded shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Bank of America downgraded Teleflex from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on Teleflex from $214.00 to $146.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley cut their target price on shares of Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $169.63.

Teleflex Trading Down 0.4 %

TFX traded down $0.58 during midday trading on Friday, reaching $135.08. 678,373 shares of the company were exchanged, compared to its average volume of 630,734. 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 stock has a market capitalization of $6.26 billion, a P/E ratio of 26.85, a PEG ratio of 1.73 and a beta of 1.19. The stock's 50-day simple moving average is $140.16 and its 200 day simple moving average is $174.33. Teleflex Incorporated has a one year low of $124.66 and a one year high of $249.91.

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

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's 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.