Swiss National Bank Trims Holdings in Teleflex Incorporated (NYSE:TFX)

Swiss National Bank lessened its position in Teleflex Incorporated (NYSE:TFX) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,000 shares of the medical technology company’s stock after selling 4,100 shares during the period. Swiss National Bank owned about 0.31% of Teleflex worth $36,653,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of Teleflex by 332.3% in the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 103 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Teleflex during the 3rd quarter worth about $27,000. Covestor Ltd grew its holdings in Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Teleflex by 75.3% in the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock valued at $35,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of Teleflex stock opened at $201.52 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $262.97. The firm’s 50-day simple moving average is $216.24 and its 200-day simple moving average is $226.77. The firm has a market cap of $9.49 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, topping the consensus estimate of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same quarter last year, the firm earned $3.09 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that Teleflex Incorporated will post 13.72 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, May 14th. Teleflex’s dividend payout ratio is presently 21.83%.

Analyst Ratings Changes

Several brokerages have commented on TFX. JMP Securities restated a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. Truist Financial dropped their price objective on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Royal Bank of Canada reduced their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Finally, StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Insiders Place Their Bets

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Teleflex Company 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.