Principal Financial Group Inc. Has $12.44 Million Holdings in Teleflex Incorporated (NYSE:TFX)

Principal Financial Group Inc. lessened its stake in Teleflex Incorporated (NYSE:TFX) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,876 shares of the medical technology company’s stock after selling 10,533 shares during the quarter. Principal Financial Group Inc. owned approximately 0.15% of Teleflex worth $12,437,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Villere ST Denis J & Co. LLC lifted its holdings in shares of Teleflex by 9.0% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 149,276 shares of the medical technology company’s stock worth $26,568,000 after buying an additional 12,296 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Teleflex by 11.7% during the 4th quarter. V Square Quantitative Management LLC now owns 1,881 shares of the medical technology company’s stock valued at $335,000 after purchasing an additional 197 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Teleflex by 21.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock valued at $248,000 after acquiring an additional 250 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Teleflex by 15.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 19,233 shares of the medical technology company’s stock valued at $3,453,000 after buying an additional 2,589 shares during the last quarter. Finally, Thompson Investment Management Inc. increased its holdings in Teleflex by 31.5% in the fourth quarter. Thompson Investment Management Inc. now owns 3,340 shares of the medical technology company’s stock valued at $594,000 after purchasing an additional 800 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Down 21.8 %

Shares of NYSE:TFX opened at $138.99 on Friday. 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’s 50-day moving average price is $176.35 and its 200-day moving average price is $205.70. The stock has a market capitalization of $6.46 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. Teleflex Incorporated has a 12-month low of $135.95 and a 12-month high of $249.90.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share 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 analyst estimates of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. On average, equities analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, March 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.98%. Teleflex’s payout ratio is currently 27.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Truist Financial lowered their price target on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Mizuho dropped their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.00.

About Teleflex

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.