DnB Asset Management AS Sells 565 Shares of Teleflex Incorporated (NYSE:TFX)

DnB Asset Management AS reduced its stake in shares of Teleflex Incorporated (NYSE:TFX) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,411 shares of the medical technology company’s stock after selling 565 shares during the period. DnB Asset Management AS’s holdings in Teleflex were worth $1,497,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Avior Wealth Management LLC grew its holdings in Teleflex by 81.2% during the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock worth $50,000 after buying an additional 125 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after acquiring an additional 217 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock worth $61,000 after acquiring an additional 94 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Teleflex in the fourth quarter valued at about $64,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Teleflex during the fourth quarter valued at about $73,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFX has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective 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. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Finally, Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Teleflex currently has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Price Performance

Shares of NYSE TFX opened at $140.12 on Wednesday. The stock has a fifty day moving average of $157.48 and a 200-day moving average of $188.50. The stock has a market cap of $6.50 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. 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 fifty-two week low of $128.55 and a fifty-two week high of $249.91.

Teleflex (NYSE:TFX) last announced its quarterly 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. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million for the quarter, compared to analysts’ expectations of $813.24 million. Equities research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. Teleflex’s dividend payout ratio (DPR) is currently 95.77%.

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.