563,701 Shares in Teleflex Incorporated (NYSE:TFX) Purchased by Norges Bank

Norges Bank purchased a new stake in Teleflex Incorporated (NYSE:TFX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 563,701 shares of the medical technology company’s stock, valued at approximately $100,328,000. Norges Bank owned 1.21% of Teleflex as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TFX. Avior Wealth Management LLC boosted its stake in Teleflex by 81.2% in the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock valued at $50,000 after purchasing an additional 125 shares during the period. IFP Advisors Inc boosted its position in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after acquiring an additional 217 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Teleflex by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock valued at $61,000 after acquiring an additional 94 shares in the last quarter. R Squared Ltd bought a new position in Teleflex during the fourth quarter worth about $64,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Teleflex in the 4th quarter worth about $73,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

Shares of NYSE:TFX opened at $140.12 on Wednesday. The firm has a 50 day simple moving average of $157.48 and a 200 day simple moving average of $188.50. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.73 and a beta of 1.21. Teleflex Incorporated has a one year low of $128.55 and a one year high of $249.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

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. 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. Research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were issued a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

Analysts Set New Price Targets

Several research analysts have recently commented on TFX shares. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Truist Financial reduced their target price on Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Teleflex has an average rating of “Hold” and a consensus price target of $182.63.

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.