Teachers Retirement System of The State of Kentucky boosted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 23.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,190 shares of the medical technology company’s stock after purchasing an additional 3,492 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Teleflex were worth $7,486,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Teleflex by 21.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 17,818 shares of the medical technology company’s stock worth $5,384,000 after buying an additional 3,173 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Teleflex by 333.3% during the third quarter. Federated Hermes Inc. now owns 494 shares of the medical technology company’s stock worth $168,000 after buying an additional 380 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Teleflex during the third quarter worth approximately $817,000. Allianz Asset Management GmbH lifted its holdings in shares of Teleflex by 711.2% during the third quarter. Allianz Asset Management GmbH now owns 16,865 shares of the medical technology company’s stock worth $5,741,000 after buying an additional 14,786 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Teleflex by 13.1% during the third quarter. Morgan Stanley now owns 111,168 shares of the medical technology company’s stock worth $37,844,000 after buying an additional 12,835 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:TFX opened at $419.61 on Thursday. The business’s fifty day moving average price is $407.16 and its two-hundred day moving average price is $382.90. Teleflex Incorporated has a fifty-two week low of $307.50 and a fifty-two week high of $434.98. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 54.00, a price-to-earnings-growth ratio of 2.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.99 and a quick ratio of 1.88.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, March 5th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, March 4th. Teleflex’s payout ratio is presently 12.20%.
A number of research analysts have recently commented on the company. JMP Securities upped their price target on Teleflex from $375.00 to $440.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 27th. Piper Sandler restated an “overweight” rating and issued a $465.00 target price (up from $405.00) on shares of Teleflex in a research note on Thursday, February 25th. Raymond James upped their target price on Teleflex from $460.00 to $480.00 and gave the company a “strong-buy” rating in a research note on Thursday, March 18th. Morgan Stanley upped their target price on Teleflex from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, December 15th. Finally, UBS Group upped their target price on Teleflex from $435.00 to $455.00 and gave the company a “buy” rating in a research note on Tuesday, December 15th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Teleflex presently has an average rating of “Buy” and an average price target of $453.44.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It provides vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.
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