CIBC Asset Management Inc Purchases 517 Shares of Teleflex Incorporated (NYSE:TFX)

CIBC Asset Management Inc increased its position in Teleflex Incorporated (NYSE:TFX) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,866 shares of the medical technology company’s stock after buying an additional 517 shares during the quarter. CIBC Asset Management Inc’s holdings in Teleflex were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of Teleflex by 1.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after acquiring an additional 46 shares during the last quarter. Cromwell Holdings LLC lifted its stake in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Teleflex by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after purchasing an additional 53 shares during the last quarter. Apollon Wealth Management LLC boosted its position in Teleflex by 3.7% during the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after buying an additional 55 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in shares of Teleflex by 0.3% during the second quarter. SRS Capital Advisors Inc. now owns 19,527 shares of the medical technology company’s stock valued at $4,107,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TFX. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial reaffirmed a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Royal Bank of Canada dropped their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Down 0.7 %

Shares of Teleflex stock opened at $193.07 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 12-month low of $189.93 and a 12-month high of $257.85. The company has a market cap of $8.97 billion, a P/E ratio of 38.38, a PEG ratio of 1.97 and a beta of 1.18. The company’s fifty day simple moving average is $229.33 and its two-hundred day simple moving average is $223.34.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter in the previous year, the company earned $3.64 earnings per share. Teleflex’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

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 paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is presently 27.04%.

Teleflex Company 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.