Allspring Global Investments Holdings LLC Trims Stake in Teleflex Incorporated (NYSE:TFX)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,342 shares of the medical technology company's stock after selling 6,959 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Teleflex were worth $3,105,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cromwell Holdings LLC increased its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company's stock worth $33,000 after buying an additional 49 shares during the last quarter. Avior Wealth Management LLC increased its position in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company's stock worth $38,000 after buying an additional 101 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Teleflex in the third quarter worth $40,000. True Wealth Design LLC increased its position in Teleflex by 16,600.0% in the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company's stock worth $41,000 after buying an additional 166 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Teleflex in the third quarter worth $54,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Performance

Shares of NYSE TFX traded up $0.30 during mid-day trading on Friday, hitting $175.43. The company had a trading volume of 397,701 shares, compared to its average volume of 522,447. Teleflex Incorporated has a 1 year low of $165.62 and a 1 year high of $249.90. The stock's 50-day moving average price is $177.07 and its 200-day moving average price is $207.80. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 1.73 and a beta of 1.16.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TFX shares. Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Truist Financial decreased their target price on Teleflex from $227.00 to $200.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a research report on Monday, December 16th. StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Finally, Mizuho reduced their price target on Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $252.50.

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.