KLP Kapitalforvaltning AS Acquires New Shares in Teleflex Incorporated (NYSE:TFX)

KLP Kapitalforvaltning AS bought a new position in shares of Teleflex Incorporated (NYSE:TFX) during the 4th quarter, HoldingsChannel reports. The firm bought 14,800 shares of the medical technology company’s stock, valued at approximately $2,634,000.

Other large investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its holdings in Teleflex by 21.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock worth $248,000 after purchasing an additional 250 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Teleflex by 14.3% during the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after buying an additional 19,466 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Teleflex by 5.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock worth $19,263,000 after buying an additional 5,322 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Teleflex in the fourth quarter valued at approximately $729,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Teleflex by 35.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company’s stock valued at $1,053,000 after acquiring an additional 1,527 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TFX. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Truist Financial dropped their price objective on Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Bank of America cut Teleflex from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $220.00 to $155.00 in a research note on Friday, February 28th. Finally, Citizens Jmp cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Price Performance

TFX stock opened at $140.13 on Thursday. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.73 and a beta of 1.21. The firm’s 50-day moving average price is $160.91 and its two-hundred day moving average price is $191.86. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 12-month low of $128.55 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. As a group, equities analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were issued a dividend of $0.34 per share. The ex-dividend date 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 is presently 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.