Teleflex Incorporated (NYSE:TFX) Position Cut by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in Teleflex Incorporated (NYSE:TFXGet Rating) by 4.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 46,693 shares of the medical technology company’s stock after selling 2,002 shares during the quarter. Bank of Montreal Can’s holdings in Teleflex were worth $12,113,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in Teleflex in the second quarter valued at $25,000. Clear Street Markets LLC lifted its stake in Teleflex by 426.3% in the second quarter. Clear Street Markets LLC now owns 100 shares of the medical technology company’s stock valued at $25,000 after buying an additional 81 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Teleflex by 141.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 104 shares of the medical technology company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Hallmark Capital Management Inc. bought a new stake in Teleflex in the second quarter valued at $31,000. Finally, Glassman Wealth Services lifted its stake in Teleflex by 271.4% in the second quarter. Glassman Wealth Services now owns 130 shares of the medical technology company’s stock valued at $32,000 after buying an additional 95 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFX. Jefferies Financial Group began coverage on shares of Teleflex in a research note on Wednesday, October 12th. They set a “hold” rating and a $210.00 price objective on the stock. Truist Financial lifted their price objective on shares of Teleflex from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Friday, October 28th. Mizuho began coverage on shares of Teleflex in a research note on Wednesday, October 26th. They set a “neutral” rating and a $220.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Teleflex from $248.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Friday, October 28th. Finally, StockNews.com began coverage on shares of Teleflex in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $271.46.

Teleflex Price Performance

Shares of Teleflex stock opened at $225.71 on Thursday. The company’s 50-day moving average price is $207.47 and its two-hundred day moving average price is $238.92. The stock has a market cap of $10.59 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09. Teleflex Incorporated has a 52 week low of $182.65 and a 52 week high of $356.72. The company has a current ratio of 2.39, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41.

Teleflex (NYSE:TFXGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The medical technology company reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The firm had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $691.52 million. Teleflex had a return on equity of 16.26% and a net margin of 14.76%. Teleflex’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $3.51 EPS. As a group, sell-side analysts anticipate that Teleflex Incorporated will post 12.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.60%. Teleflex’s dividend payout ratio is currently 15.60%.

About Teleflex

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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