Baird Financial Group Inc. raised its stake in Teleflex Incorporated (NYSE:TFX – Get Rating) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,134 shares of the medical technology company’s stock after buying an additional 57 shares during the period. Baird Financial Group Inc.’s holdings in Teleflex were worth $278,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Hartford Investment Management Co. lifted its stake in shares of Teleflex by 0.9% in the 2nd quarter. Hartford Investment Management Co. now owns 4,487 shares of the medical technology company’s stock valued at $1,103,000 after purchasing an additional 41 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Teleflex by 1.0% in the first quarter. CIBC Asset Management Inc now owns 4,471 shares of the medical technology company’s stock valued at $1,586,000 after acquiring an additional 45 shares in the last quarter. Security Asset Management grew its holdings in shares of Teleflex by 0.6% in the second quarter. Security Asset Management now owns 7,257 shares of the medical technology company’s stock valued at $1,784,000 after acquiring an additional 45 shares in the last quarter. Comerica Bank grew its holdings in shares of Teleflex by 0.6% in the second quarter. Comerica Bank now owns 7,463 shares of the medical technology company’s stock valued at $1,900,000 after acquiring an additional 46 shares in the last quarter. Finally, Dupont Capital Management Corp grew its holdings in Teleflex by 12.1% during the second quarter. Dupont Capital Management Corp now owns 444 shares of the medical technology company’s stock valued at $109,000 after purchasing an additional 48 shares during the period. Institutional investors own 95.91% of the company’s stock.
Teleflex Stock Up 1.4 %
Shares of NYSE TFX opened at $217.00 on Wednesday. The firm’s 50-day moving average price is $207.73 and its 200-day moving average price is $239.01. The company has a current ratio of 2.39, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 2.56 and a beta of 1.09. Teleflex Incorporated has a 12-month low of $182.65 and a 12-month high of $356.72.
Teleflex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Monday, November 14th. Teleflex’s dividend payout ratio (DPR) is currently 15.60%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on TFX. Morgan Stanley reduced their price objective on Teleflex from $278.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, October 11th. Mizuho initiated coverage on Teleflex in a research report on Wednesday, October 26th. They issued a “neutral” rating and a $220.00 price objective on the stock. Stephens lowered their price target on Teleflex from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, October 28th. Royal Bank of Canada lowered their price target on Teleflex from $342.00 to $308.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Finally, JMP Securities reduced their price objective on Teleflex from $370.00 to $330.00 and set a “market outperform” rating on the stock in a research note on Friday, October 28th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $271.46.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.
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