Assenagon Asset Management S.A. Sells 75,295 Shares of Teleflex Incorporated (NYSE:TFX)

Assenagon Asset Management S.A. lessened its holdings in Teleflex Incorporated (NYSE:TFX) by 62.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,016 shares of the medical technology company’s stock after selling 75,295 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Teleflex worth $8,012,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TFX. Oak Thistle LLC increased its position in Teleflex by 243.9% during the 4th quarter. Oak Thistle LLC now owns 10,695 shares of the medical technology company’s stock valued at $1,903,000 after purchasing an additional 7,585 shares during the period. Mendota Financial Group LLC bought a new stake in Teleflex during the fourth quarter valued at $124,000. Bridge Creek Capital Management LLC lifted its stake in shares of Teleflex by 1.7% in the 4th quarter. Bridge Creek Capital Management LLC now owns 16,730 shares of the medical technology company’s stock valued at $2,978,000 after purchasing an additional 285 shares during the period. Czech National Bank grew its stake in Teleflex by 4.9% during the fourth quarter. Czech National Bank now owns 10,070 shares of the medical technology company’s stock worth $1,792,000 after purchasing an additional 472 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Teleflex by 4.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,305 shares of the medical technology company’s stock worth $588,000 after purchasing an additional 128 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial reduced their price objective 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. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Mizuho cut their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada dropped their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and a consensus price target of $252.50.

Teleflex Stock Performance

Shares of TFX opened at $181.56 on Monday. Teleflex Incorporated has a 52 week low of $171.69 and a 52 week high of $256.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The stock has a 50 day moving average price of $184.14 and a two-hundred day moving average price of $215.49. The firm has a market capitalization of $8.43 billion, a P/E ratio of 36.10, a P/E/G ratio of 1.64 and a beta of 1.16.

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

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.34 dividend. 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 0.75%. Teleflex’s payout ratio is presently 27.04%.

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.