Advisors Asset Management Inc. Sells 3,045 Shares of Teleflex Incorporated (NYSE:TFX)

Advisors Asset Management Inc. trimmed its stake in Teleflex Incorporated (NYSE:TFXGet Rating) by 34.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,879 shares of the medical technology company’s stock after selling 3,045 shares during the period. Advisors Asset Management Inc.’s holdings in Teleflex were worth $1,445,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI lifted its stake in shares of Teleflex by 7,726.3% in the 1st quarter. National Bank of Canada FI now owns 13,383 shares of the medical technology company’s stock valued at $4,633,000 after purchasing an additional 13,212 shares during the last quarter. Regentatlantic Capital LLC raised its holdings in shares of Teleflex by 2.3% in the first quarter. Regentatlantic Capital LLC now owns 2,215 shares of the medical technology company’s stock worth $786,000 after buying an additional 50 shares during the period. Procyon Advisors LLC raised its holdings in shares of Teleflex by 47.0% in the second quarter. Procyon Advisors LLC now owns 992 shares of the medical technology company’s stock worth $244,000 after buying an additional 317 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Teleflex in the first quarter worth approximately $369,000. Finally, TownSquare Capital LLC raised its holdings in shares of Teleflex by 9.8% in the second quarter. TownSquare Capital LLC now owns 2,822 shares of the medical technology company’s stock worth $694,000 after buying an additional 252 shares during the period. 95.91% of the stock is owned by institutional investors.

Teleflex Stock Down 4.2 %

Shares of NYSE TFX opened at $210.00 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $9.85 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.09. The stock’s fifty day simple moving average is $210.18 and its two-hundred day simple moving average is $241.77. Teleflex Incorporated has a 12-month low of $182.65 and a 12-month high of $356.72.

Teleflex (NYSE:TFXGet Rating) last announced its earnings results on Thursday, October 27th. The medical technology company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $691.52 million. Teleflex had a return on equity of 16.26% and a net margin of 14.76%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.51 EPS. As a group, analysts expect that Teleflex Incorporated will post 12.99 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be given a $0.34 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.65%. Teleflex’s payout ratio is 15.60%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFX. Wells Fargo & Company reduced their price target on Teleflex from $248.00 to $229.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. Truist Financial increased their price target on Teleflex from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Friday, October 28th. Stephens reduced their price target on Teleflex from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Royal Bank of Canada reduced their price objective on Teleflex from $342.00 to $308.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Finally, Jefferies Financial Group started coverage on Teleflex in a report on Wednesday, October 12th. They set a “hold” rating and a $210.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $271.46.

About Teleflex

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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.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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