Prudential Financial Inc. Sells 3,508 Shares of Teleflex Incorporated (NYSE:TFX)

Prudential Financial Inc. reduced its stake in Teleflex Incorporated (NYSE:TFX) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,887 shares of the medical technology company’s stock after selling 3,508 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Teleflex worth $4,669,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after purchasing an additional 147,147 shares during the period. State Street Corp lifted its holdings in shares of Teleflex by 1.0% in the third quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after buying an additional 21,291 shares in the last quarter. Geode Capital Management LLC grew its stake in Teleflex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock valued at $278,676,000 after acquiring an additional 5,746 shares in the last quarter. Cooke & Bieler LP increased its holdings in Teleflex by 22.1% during the 4th quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company’s stock worth $191,962,000 after acquiring an additional 195,150 shares during the period. Finally, Magnetar Financial LLC lifted its stake in Teleflex by 105.2% in the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock worth $74,990,000 after purchasing an additional 215,961 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Stock Up 0.3 %

Shares of TFX opened at $138.22 on Tuesday. Teleflex Incorporated has a 1 year low of $128.55 and a 1 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. The stock has a 50 day simple moving average of $158.33 and a two-hundred day simple moving average of $189.25. The firm has a market cap of $6.41 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.73 and a beta of 1.21.

Teleflex (NYSE:TFX) last announced its quarterly earnings data 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. The company 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%. On average, analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 0.98%. Teleflex’s dividend payout ratio is currently 95.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Morgan Stanley lowered their price target on Teleflex from $275.00 to $191.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Piper Sandler reissued a “neutral” rating and set a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Friday, February 28th. Finally, Bank of America cut shares of Teleflex from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Teleflex currently has an average rating of “Hold” and a consensus target price 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.