Teleflex Incorporated (NYSE:TFX) Stake Lessened by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 28.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,927 shares of the medical technology company’s stock after selling 2,756 shares during the quarter. Franklin Resources Inc.’s holdings in Teleflex were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its stake in shares of Teleflex by 81.2% in the 4th 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 holdings in Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after acquiring an additional 217 shares during the period. Exchange Traded Concepts LLC raised its position in Teleflex by 38.2% in the fourth 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 acquired a new stake in Teleflex in the 4th quarter valued at about $64,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Teleflex during the 4th quarter valued at about $73,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFX has been the subject of several recent research reports. Morgan Stanley cut their target price on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Piper Sandler restated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Bank of America downgraded 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 report on Tuesday, March 4th. Finally, Wells Fargo & Company dropped their price target on Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Teleflex presently has an average rating of “Hold” and an average price target of $181.50.

Teleflex Stock Up 1.6 %

Shares of Teleflex stock opened at $132.02 on Tuesday. Teleflex Incorporated has a 1 year low of $124.66 and a 1 year high of $249.91. The company has a market cap of $6.12 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.73 and a beta of 1.19. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $147.12 and a 200 day moving average price of $180.28.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping the consensus estimate of $3.86 by $0.03. The business had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. As a group, analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 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.