Deutsche Bank AG decreased its position in Teleflex Incorporated (NYSE:TFX – Get Rating) by 0.9% during the second quarter, Holdings Channel.com reports. The fund owned 125,144 shares of the medical technology company’s stock after selling 1,118 shares during the quarter. Deutsche Bank AG’s holdings in Teleflex were worth $30,767,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of TFX. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Teleflex in the second quarter valued at about $25,000. Clear Street Markets LLC boosted its stake in shares of Teleflex by 426.3% during the 2nd quarter. Clear Street Markets LLC now owns 100 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 81 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Teleflex by 141.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 104 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. Hallmark Capital Management Inc. bought a new stake in shares of Teleflex during the 2nd quarter valued at about $31,000. Finally, Glassman Wealth Services boosted its stake in shares of Teleflex by 271.4% during the 2nd quarter. Glassman Wealth Services now owns 130 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.
Wall Street Analyst Weigh In
TFX has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Teleflex from $342.00 to $308.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Stephens dropped their target price on shares of Teleflex from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. Morgan Stanley dropped their target price 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. StockNews.com assumed coverage on shares of Teleflex in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Piper Sandler dropped their target price on shares of Teleflex from $265.00 to $245.00 in a research note on Thursday, October 27th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $271.46.
Teleflex Stock Up 4.0 %
Teleflex (NYSE:TFX – Get Rating) last announced its earnings results on Thursday, October 27th. The medical technology company reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Teleflex had a net margin of 14.76% and a return on equity of 16.26%. The business had revenue of $686.80 million during the quarter, compared to analysts’ expectations of $691.52 million. During the same period in the prior year, the company earned $3.51 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. On average, research analysts expect that Teleflex Incorporated will post 12.98 earnings per share for the current year.
Teleflex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.34 per share. 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.
- Get a free copy of the StockNews.com research report on Teleflex (TFX)
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