Resona Asset Management Co. Ltd. Buys New Stake in Teleflex Incorporated (NYSE:TFX)

Resona Asset Management Co. Ltd. bought a new stake in Teleflex Incorporated (NYSE:TFX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,866 shares of the medical technology company’s stock, valued at approximately $2,471,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Teleflex by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company’s stock valued at $202,161,000 after purchasing an additional 8,307 shares in the last quarter. Cooke & Bieler LP boosted its stake in Teleflex by 22.1% during the fourth quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company’s stock worth $191,962,000 after buying an additional 195,150 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Teleflex by 38.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company’s stock worth $105,102,000 after buying an additional 162,950 shares during the period. Norges Bank purchased a new position in Teleflex during the fourth quarter worth $100,328,000. Finally, Magnetar Financial LLC boosted its stake in Teleflex by 105.2% during the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock worth $74,990,000 after buying an additional 215,961 shares during the period. 95.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TFX. Wells Fargo & Company dropped their price objective on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada lowered shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $220.00 to $155.00 in a research note on Friday, February 28th. Morgan Stanley dropped their price objective 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. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Piper Sandler reissued a “neutral” rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex presently has a consensus rating of “Hold” and an average target price of $182.63.

Teleflex Stock Performance

TFX stock opened at $135.29 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The business has a 50-day moving average price of $149.82 and a 200 day moving average price of $183.14. The company has a market capitalization of $6.27 billion, a P/E ratio of 26.90, a PEG ratio of 1.73 and a beta of 1.19. Teleflex Incorporated has a 1-year low of $124.66 and a 1-year high of $249.91.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 1.01%. Teleflex’s dividend payout ratio 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.