Bank of Montreal Can trimmed its stake in Teleflex Incorporated (NYSE:TFX – Get 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.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on TFX shares. Piper Sandler cut their target price on Teleflex from $265.00 to $245.00 in a research note on Thursday, October 27th. Morgan Stanley cut their price objective on shares of Teleflex from $278.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 11th. 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. Raymond James cut their price objective on shares of Teleflex from $266.00 to $231.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Finally, 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. 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
Teleflex (NYSE:TFX – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The medical technology company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. Teleflex had a net margin of 14.76% and a return on equity of 16.26%. The firm had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $691.52 million. During the same period in the previous year, the business earned $3.51 earnings per share. Teleflex’s revenue for the quarter was down 1.9% compared to the same quarter last year. 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%.
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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