Korea Investment CORP Has $2.28 Million Holdings in Teleflex Incorporated (NYSE:TFX)

Korea Investment CORP cut its stake in Teleflex Incorporated (NYSE:TFX) by 25.6% in the fourth quarter, HoldingsChannel reports. The fund owned 12,794 shares of the medical technology company’s stock after selling 4,400 shares during the period. Korea Investment CORP’s holdings in Teleflex were worth $2,277,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Avior Wealth Management LLC lifted its position in Teleflex by 81.2% during the 4th quarter. Avior Wealth Management LLC now owns 279 shares of the medical technology company’s stock valued at $50,000 after purchasing an additional 125 shares during the period. IFP Advisors Inc raised its position in shares of Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after acquiring an additional 217 shares during the last quarter. Exchange Traded Concepts LLC lifted 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 period. R Squared Ltd bought a new position in shares of Teleflex in the 4th quarter worth $64,000. Finally, Quarry LP grew its stake in shares of Teleflex by 71.5% during the third quarter. Quarry LP now owns 391 shares of the medical technology company’s stock worth $97,000 after purchasing an additional 163 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TFX has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $220.00 to $155.00 in a report on Friday, February 28th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. 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 report on Wednesday, March 5th. Finally, Bank of America cut shares of Teleflex from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $235.00 to $140.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $182.63.

Teleflex Stock Up 1.4 %

TFX stock 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. 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. Teleflex Incorporated has a fifty-two week low of $128.55 and a fifty-two week high of $249.91. The business has a 50-day moving average of $157.48 and a 200-day moving average of $188.50.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were given a dividend of $0.34 per share. The ex-dividend date was Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 0.97%. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

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.