JPMorgan Chase & Co. Has $38.37 Million Holdings in Teleflex Incorporated (NYSE:TFX)

JPMorgan Chase & Co. lifted its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 14.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 155,158 shares of the medical technology company’s stock after acquiring an additional 19,466 shares during the period. JPMorgan Chase & Co.’s holdings in Teleflex were worth $38,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Simplify Asset Management Inc. bought a new position in Teleflex during the 3rd quarter worth $4,800,000. Dimensional Fund Advisors LP grew its holdings in shares of Teleflex by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock valued at $83,741,000 after buying an additional 15,992 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Teleflex by 19.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock valued at $102,000 after buying an additional 80 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Teleflex by 41.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company’s stock worth $6,010,000 after purchasing an additional 7,132 shares during the last quarter. Finally, LGT Capital Partners LTD. lifted its holdings in Teleflex by 4.2% during the third quarter. LGT Capital Partners LTD. now owns 231,685 shares of the medical technology company’s stock worth $57,300,000 after acquiring an additional 9,411 shares during the period. Institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TFX. Truist Financial reduced their target price on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada decreased their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Mizuho reduced their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.50.

Teleflex Stock Performance

NYSE:TFX opened at $181.75 on Monday. The stock has a market cap of $8.44 billion, a P/E ratio of 36.13, a PEG ratio of 1.84 and a beta of 1.16. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $190.92 and its two-hundred day moving average price is $217.28. Teleflex Incorporated has a twelve month low of $171.69 and a twelve month high of $256.85.

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, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same period last year, the firm posted $3.64 earnings per share. Teleflex’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, November 15th. Teleflex’s payout ratio is currently 27.04%.

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.