Teleflex Incorporated (NYSE:TFX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in Teleflex Incorporated (NYSE:TFX) by 32.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,288 shares of the medical technology company’s stock after selling 7,015 shares during the period. Thrivent Financial for Lutherans’ holdings in Teleflex were worth $2,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its position in shares of Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock worth $248,000 after acquiring an additional 250 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Teleflex by 14.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after purchasing an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Teleflex by 5.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock valued at $19,263,000 after buying an additional 5,322 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Teleflex during the 4th quarter worth $729,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Teleflex by 35.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company’s stock worth $1,053,000 after buying an additional 1,527 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Trading Down 0.6 %

NYSE:TFX opened at $139.34 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a one year low of $128.55 and a one year high of $249.91. The business’s 50-day simple moving average is $160.07 and its 200 day simple moving average is $191.50. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

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

Teleflex Announces Dividend

The company 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. This represents a $1.36 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio is currently 95.77%.

Analyst Ratings Changes

A number of research firms have issued reports on TFX. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Piper Sandler restated a “neutral” rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a report on Friday, February 28th. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $220.00 to $155.00 in a research note on Friday, February 28th. Finally, Morgan Stanley decreased their price target on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. 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’s stock. Based on data from MarketBeat.com, the company 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.