The Manufacturers Life Insurance Company Sells 25,517 Shares of Teleflex Incorporated (NYSE:TFX)

The Manufacturers Life Insurance Company lowered its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 16.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 129,652 shares of the medical technology company’s stock after selling 25,517 shares during the period. The Manufacturers Life Insurance Company owned about 0.28% of Teleflex worth $32,066,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Tidal Investments LLC raised its position in Teleflex by 214.7% during the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares during the last quarter. Comerica Bank raised its position in shares of Teleflex by 13.0% during the first quarter. Comerica Bank now owns 14,491 shares of the medical technology company’s stock worth $3,277,000 after acquiring an additional 1,662 shares during the last quarter. Swedbank AB acquired a new position in shares of Teleflex in the first quarter worth approximately $679,000. Boston Partners boosted its holdings in Teleflex by 105.9% in the first quarter. Boston Partners now owns 2,831 shares of the medical technology company’s stock valued at $640,000 after acquiring an additional 1,456 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Teleflex by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the medical technology company’s stock valued at $1,606,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TFX shares. Stephens boosted their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Mizuho dropped their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Teleflex currently has a consensus rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Up 0.6 %

Shares of NYSE:TFX opened at $193.08 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex Incorporated has a 52-week low of $185.66 and a 52-week high of $257.85. The business’s 50 day simple moving average is $219.90 and its two-hundred day simple moving average is $222.34. The firm has a market cap of $8.97 billion, a P/E ratio of 38.39, a PEG ratio of 1.96 and a beta of 1.18.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Teleflex’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $3.64 EPS. As a group, research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. Teleflex’s dividend 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.