Strs Ohio Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Strs Ohio trimmed its position in Teleflex Incorporated (NYSE:TFX) by 8.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,537 shares of the medical technology company’s stock after selling 2,201 shares during the period. Strs Ohio’s holdings in Teleflex were worth $5,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Teleflex by 2.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,633,473 shares of the medical technology company’s stock valued at $2,155,174,000 after acquiring an additional 181,393 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Teleflex by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,147,062 shares of the medical technology company’s stock valued at $1,826,333,000 after acquiring an additional 83,858 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Teleflex by 0.3% in the 1st quarter. BlackRock Inc. now owns 3,982,749 shares of the medical technology company’s stock valued at $1,008,870,000 after acquiring an additional 13,204 shares during the last quarter. Morgan Stanley increased its holdings in shares of Teleflex by 535.8% in the 4th quarter. Morgan Stanley now owns 2,691,192 shares of the medical technology company’s stock valued at $671,803,000 after acquiring an additional 2,267,889 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Teleflex by 2.0% in the 1st quarter. State Street Corp now owns 2,328,957 shares of the medical technology company’s stock valued at $589,948,000 after acquiring an additional 44,583 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Teleflex Trading Down 0.4 %

Shares of TFX stock opened at $207.38 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $276.43. The stock has a fifty day moving average of $226.40 and a two-hundred day moving average of $225.08. The firm has a market capitalization of $9.77 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The company had revenue of $773.90 million during the quarter, compared to analyst estimates of $769.01 million. During the same quarter in the previous year, the firm posted $3.52 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts expect that Teleflex Incorporated will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is presently 18.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Truist Financial lowered their price objective on Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Finally, Royal Bank of Canada lowered their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $267.50.

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the sale, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.43% of the stock is currently owned by insiders.

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.