Teleflex Incorporated (NYSE:TFX) Stock Holdings Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 13.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,105 shares of the medical technology company's stock after selling 2,117 shares during the period. Wells Fargo & Company MN's holdings in Teleflex were worth $2,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its stake in shares of Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock valued at $248,000 after purchasing an additional 250 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Teleflex by 14.3% in the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company's stock valued at $38,374,000 after purchasing an additional 19,466 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Teleflex by 5.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock valued at $19,263,000 after purchasing an additional 5,322 shares during the period. Lecap Asset Management Ltd. acquired a new position in Teleflex during the fourth quarter worth about $729,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Teleflex by 35.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock worth $1,053,000 after acquiring an additional 1,527 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Down 0.4 %

Shares of NYSE TFX traded down $0.52 during midday trading on Monday, reaching $134.69. 864,771 shares of the company's stock were exchanged, compared to its average volume of 632,460. 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 Incorporated has a 52-week low of $124.66 and a 52-week high of $249.91. The business's fifty day moving average price is $140.16 and its two-hundred day moving average price is $173.49. The stock has a market capitalization of $6.25 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19.

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

Teleflex Announces Dividend

The company 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. 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 dividend payout ratio is currently 95.77%.

Wall Street Analysts Forecast Growth

TFX has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Teleflex from $275.00 to $191.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Wells Fargo & Company cut their target price on shares of Teleflex from $214.00 to $146.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Bank of America cut shares of Teleflex from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. Piper Sandler restated a "neutral" rating and set a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Teleflex currently has a consensus rating of "Hold" and an average target price of $169.63.

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.