Nordea Investment Management AB Has $685,000 Position in Teleflex Incorporated (NYSE:TFX)

Nordea Investment Management AB reduced its position in shares of Teleflex Incorporated (NYSE:TFX) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,824 shares of the medical technology company’s stock after selling 134 shares during the period. Nordea Investment Management AB’s holdings in Teleflex were worth $685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TFX. Cromwell Holdings LLC raised its holdings in Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Teleflex by 3.7% during the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after acquiring an additional 55 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Teleflex by 0.3% during the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after acquiring an additional 60 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Teleflex by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company’s stock worth $3,792,000 after acquiring an additional 65 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Teleflex by 4.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company’s stock worth $375,000 after acquiring an additional 66 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Mizuho dropped their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Finally, Truist Financial dropped their price objective on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.50.

Teleflex Price Performance

Shares of NYSE TFX opened at $174.75 on Monday. The firm has a market cap of $8.12 billion, a P/E ratio of 34.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 1-year low of $171.69 and a 1-year high of $256.85. The business’s 50 day moving average is $186.33 and its 200-day moving average is $216.58.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.64 earnings per share. Equities research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.78%. Teleflex’s dividend payout ratio (DPR) is currently 27.04%.

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.