Johnson Investment Counsel Inc. Lowers Position in Teleflex Incorporated (NYSE:TFX)

Johnson Investment Counsel Inc. decreased its position in Teleflex Incorporated (NYSE:TFX) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,888 shares of the medical technology company’s stock after selling 201 shares during the period. Johnson Investment Counsel Inc.’s holdings in Teleflex were worth $1,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TFX. Janus Henderson Group PLC boosted its holdings in shares of Teleflex by 2.8% in the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock valued at $1,329,704,000 after acquiring an additional 147,147 shares in the last quarter. FMR LLC boosted its holdings in shares of Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock valued at $66,650,000 after acquiring an additional 111,086 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Teleflex by 31.2% in the third quarter. Point72 Asset Management L.P. now owns 407,442 shares of the medical technology company’s stock valued at $100,768,000 after acquiring an additional 96,958 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Teleflex in the third quarter valued at about $23,778,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Teleflex in the fourth quarter valued at about $10,342,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of TFX opened at $139.25 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock has a market cap of $6.46 billion, a P/E ratio of 27.68, a PEG ratio of 1.73 and a beta of 1.21. The company has a 50-day moving average of $169.58 and a two-hundred day moving average of $199.60. Teleflex Incorporated has a 12-month low of $128.55 and a 12-month high of $249.90.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, March 7th. Teleflex’s dividend payout ratio is presently 95.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TFX. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Truist Financial decreased their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Finally, Raymond James downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Company 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.