Franklin Resources Inc. reduced its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,927 shares of the medical technology company's stock after selling 2,756 shares during the quarter. Franklin Resources Inc.'s holdings in Teleflex were worth $1,233,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in shares of Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company's stock valued at $50,000 after buying an additional 125 shares during the period. IFP Advisors Inc boosted its position in shares of Teleflex by 238.5% in 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 during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Teleflex by 38.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock worth $61,000 after purchasing an additional 94 shares during the period. R Squared Ltd acquired a new position in Teleflex in the 4th quarter valued at approximately $64,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Teleflex in the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 95.62% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Bank of America cut Teleflex from a "neutral" rating to an "underperform" rating and reduced their price objective for the company 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 research report on Wednesday, March 12th. Wells Fargo & Company dropped their target price on Teleflex from $214.00 to $146.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. StockNews.com lowered Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Raymond James cut Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $169.63.
View Our Latest Research Report on Teleflex
Teleflex Price Performance
TFX traded up $1.36 during midday trading on Friday, hitting $129.57. The company had a trading volume of 476,216 shares, compared to its average volume of 620,618. Teleflex Incorporated has a twelve month low of $124.66 and a twelve month high of $249.91. The firm's 50-day simple moving average is $144.52 and its 200-day simple moving average is $178.76. The company has a market capitalization of $6.01 billion, a PE ratio of 25.76, a P/E/G ratio of 1.73 and a beta of 1.19. 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 for the quarter, beating the consensus estimate of $3.86 by $0.03. The business had revenue of $795.40 million during 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%. Equities research analysts predict that Teleflex Incorporated will post 13.98 EPS 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 issued a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 1.05%. Teleflex's dividend payout ratio (DPR) is presently 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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