Handelsbanken Fonder AB Cuts Position in Teleflex Incorporated (NYSE:TFX)

Handelsbanken Fonder AB cut its stake in Teleflex Incorporated (NYSE:TFX) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,500 shares of the medical technology company’s stock after selling 422 shares during the quarter. Handelsbanken Fonder AB’s holdings in Teleflex were worth $2,119,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 103 shares in the last quarter. Lindbrook Capital LLC boosted its position 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 worth $34,000 after purchasing an additional 58 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Teleflex in the 3rd quarter worth $27,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Teleflex by 418.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after purchasing an additional 113 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of TFX stock opened at $206.71 on Friday. The stock has a market cap of $9.74 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The business has a 50-day simple moving average of $221.23 and a 200-day simple moving average of $225.61. The company has a quick ratio of 1.29, a current ratio of 2.32 and a debt-to-equity ratio of 0.39. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $276.43.

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

Teleflex Announces Dividend

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

Insider Activity

In related news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction dated 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 transaction, the vice president now owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

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

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.