Deutsche Bank AG Increases Holdings in Teleflex Incorporated (NYSE:TFX)

Deutsche Bank AG grew its holdings in Teleflex Incorporated (NYSE:TFXFree Report) by 23.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 157,522 shares of the medical technology company’s stock after acquiring an additional 29,607 shares during the quarter. Deutsche Bank AG owned about 0.34% of Teleflex worth $30,939,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Allworth Financial LP grew its stake in Teleflex by 332.3% during the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after buying an additional 103 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Teleflex during the 3rd quarter worth approximately $27,000. Covestor Ltd grew its stake in Teleflex by 305.6% during the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. ING Groep NV purchased a new position in Teleflex during the 3rd quarter worth approximately $39,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Teleflex by 1,333.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 215 shares of the medical technology company’s stock worth $42,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Teleflex Stock Down 1.3 %

TFX opened at $215.39 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The business has a 50 day simple moving average of $240.61 and a 200-day simple moving average of $223.63. The stock has a market capitalization of $10.14 billion, a P/E ratio of 28.60, a P/E/G ratio of 2.13 and a beta of 1.11. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $276.43.

Teleflex (NYSE:TFXGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, beating the consensus estimate of $3.26 by $0.12. The business had revenue of $773.90 million during the quarter, compared to analysts’ expectations of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $3.52 EPS. On average, equities analysts anticipate that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 annualized dividend and a yield of 0.63%. Teleflex’s dividend payout ratio is presently 18.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Raymond James raised their price target on Teleflex from $227.00 to $271.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. Royal Bank of Canada decreased their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Morgan Stanley raised Teleflex from an “equal weight” rating to an “overweight” rating and set a $261.00 price objective for the company in a research report on Monday, December 4th. Truist Financial decreased their price objective on Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.56.

Read Our Latest Stock Analysis on TFX

Insider Buying and Selling

In related news, CEO Liam Kelly sold 26,256 shares of Teleflex stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $250.23, for a total transaction of $6,570,038.88. Following the completion of the transaction, the chief executive officer now directly owns 18,470 shares of the company’s stock, valued at $4,621,748.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the transaction, the vice president now owns 10,050 shares of the company’s stock, valued at $2,261,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Liam Kelly sold 26,256 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $250.23, for a total value of $6,570,038.88. Following the transaction, the chief executive officer now directly owns 18,470 shares of the company’s stock, valued at approximately $4,621,748.10. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

About Teleflex

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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