Zurcher Kantonalbank Zurich Cantonalbank Has $3.79 Million Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Teleflex Incorporated (NYSE:TFX) by 24.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,289 shares of the medical technology company’s stock after selling 7,074 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Teleflex were worth $3,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Apollon Wealth Management LLC grew its holdings in Teleflex by 3.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after acquiring an additional 55 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Teleflex by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 102,909 shares of the medical technology company’s stock worth $25,451,000 after acquiring an additional 2,545 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Teleflex by 364.6% during the 3rd quarter. Victory Capital Management Inc. now owns 35,370 shares of the medical technology company’s stock worth $8,748,000 after acquiring an additional 27,757 shares during the last quarter. KBC Group NV grew its holdings in Teleflex by 13.2% during the 3rd quarter. KBC Group NV now owns 4,577 shares of the medical technology company’s stock worth $1,132,000 after acquiring an additional 535 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Teleflex by 32.5% during the 3rd quarter. Huntington National Bank now owns 310 shares of the medical technology company’s stock worth $77,000 after acquiring an additional 76 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TFX shares. Wells Fargo & Company reduced their target price on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Truist Financial reduced their target price on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $220.00 to $155.00 in a research report on Friday, February 28th. Citizens Jmp cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $182.63.

Teleflex Trading Up 1.1 %

NYSE:TFX opened at $137.79 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 has a market capitalization of $6.39 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.73 and a beta of 1.21. The firm has a fifty day simple moving average of $166.99 and a two-hundred day simple moving average of $197.69. Teleflex Incorporated has a 12 month low of $128.55 and a 12 month high of $249.90.

Teleflex (NYSE:TFX) last posted its quarterly earnings results 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. The business had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend yield of 0.99%. The ex-dividend date is Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is 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.