Davis R M Inc. Cuts Stake in Teleflex Incorporated (NYSE:TFX)

Davis R M Inc. trimmed its position in Teleflex Incorporated (NYSE:TFX) by 43.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,271 shares of the medical technology company’s stock after selling 1,765 shares during the quarter. Davis R M Inc.’s holdings in Teleflex were worth $562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cooke & Bieler LP increased its stake in Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after buying an additional 172,335 shares during the period. TD Asset Management Inc raised its position in Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after purchasing an additional 48,832 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Teleflex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock worth $105,749,000 after buying an additional 1,884 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Teleflex by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after buying an additional 26,325 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Teleflex by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock valued at $83,741,000 after acquiring an additional 15,992 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Mizuho dropped their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial reaffirmed a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Stephens upped their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Up 1.5 %

NYSE:TFX opened at $194.60 on Tuesday. The firm has a market capitalization of $9.04 billion, a P/E ratio of 38.69, a PEG ratio of 1.96 and a beta of 1.18. The company’s fifty day moving average price is $223.96 and its 200-day moving average price is $222.96. Teleflex Incorporated has a 1-year low of $185.66 and a 1-year high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $3.64 EPS. As a group, equities research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio (DPR) is 27.04%.

Teleflex Profile

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.