Teleflex Incorporated (NYSE:TFX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Teleflex Incorporated (NYSE:TFX - Free Report) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,289 shares of the medical technology company's stock after selling 7,074 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Teleflex were worth $3,789,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in shares of Teleflex by 21.9% during the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after purchasing an additional 250 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Teleflex by 14.3% during 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 position in shares of Teleflex by 5.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock worth $19,263,000 after purchasing an additional 5,322 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Teleflex in the fourth quarter valued at $729,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Teleflex by 35.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock valued at $1,053,000 after purchasing an additional 1,527 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TFX. StockNews.com downgraded Teleflex from a "buy" rating to a "hold" 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 price objective for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Morgan Stanley reduced their target price on Teleflex from $275.00 to $191.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Piper Sandler reissued a "neutral" rating and issued a $140.00 price objective (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Finally, Royal Bank of Canada downgraded Teleflex from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $220.00 to $155.00 in a report on Friday, February 28th. One equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $182.63.

Teleflex Stock Performance

NYSE:TFX traded down $1.01 during midday trading on Wednesday, reaching $138.95. 949,376 shares of the company traded hands, compared to its average volume of 860,290. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The company has a fifty day moving average price of $165.38 and a 200 day moving average price of $195.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a twelve month low of $128.55 and a twelve month high of $249.90.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. On average, analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, March 7th. Teleflex's dividend payout ratio is currently 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.