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

Korea Investment CORP cut its stake in Teleflex Incorporated (NYSE:TFX) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,794 shares of the medical technology company’s stock after selling 4,400 shares during the quarter. Korea Investment CORP’s holdings in Teleflex were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TFX. Avior Wealth Management LLC grew its stake 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 purchasing an additional 125 shares in the last quarter. IFP Advisors Inc grew its stake 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 valued at $55,000 after buying an additional 217 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Teleflex by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company’s stock worth $61,000 after buying an additional 94 shares during the last quarter. R Squared Ltd bought a new position in Teleflex during the fourth quarter valued at approximately $64,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Teleflex in the fourth quarter valued at approximately $73,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Price Performance

Shares of Teleflex 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 company has a market cap of $6.50 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The firm has a fifty day moving average price of $157.48 and a two-hundred day moving average price of $188.50. Teleflex Incorporated has a fifty-two week low of $128.55 and a fifty-two week high of $249.91.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating 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 business had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. Analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were paid 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 Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Truist Financial reduced their target price on Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Finally, Royal Bank of Canada downgraded Teleflex from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $220.00 to $155.00 in a report on Friday, February 28th. One investment 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. Based on data from MarketBeat, Teleflex has a consensus rating of “Hold” and an average target price of $182.63.

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.