Norges Bank Makes New $100.33 Million Investment in Teleflex Incorporated (NYSE:TFX)

Norges Bank purchased a new stake in Teleflex Incorporated (NYSE:TFX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 563,701 shares of the medical technology company’s stock, valued at approximately $100,328,000.

Other hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in Teleflex by 81.2% in the fourth quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock valued at $50,000 after acquiring an additional 125 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after purchasing an additional 217 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Teleflex by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock valued at $61,000 after purchasing an additional 94 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Teleflex during the fourth quarter worth $64,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Teleflex in the fourth quarter valued at $73,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Up 1.4 %

Shares of NYSE TFX opened at $140.12 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a 1 year low of $128.55 and a 1 year high of $249.91. The stock has a market capitalization of $6.50 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.73 and a beta of 1.21. The company has a 50-day moving average price of $157.48 and a 200-day moving average price of $188.50.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. On average, equities research analysts forecast 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 was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, March 7th. Teleflex’s dividend payout ratio is 95.77%.

Wall Street Analyst Weigh In

TFX has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Raymond James cut Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Wells Fargo & Company lowered their price objective on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Finally, StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One 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 company currently has a consensus rating of “Hold” and a consensus price target 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.