Bank of Montreal Can Sells 4,432 Shares of Teleflex Incorporated (NYSE:TFX)

Bank of Montreal Can reduced its stake in shares of Teleflex Incorporated (NYSE:TFX) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,696 shares of the medical technology company’s stock after selling 4,432 shares during the quarter. Bank of Montreal Can’s holdings in Teleflex were worth $12,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tidal Investments LLC lifted its stake in Teleflex by 214.7% in the first 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. Boston Trust Walden Corp raised its holdings in shares of Teleflex by 2.7% in the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after buying an additional 6,076 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Teleflex by 876.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock worth $4,538,000 after acquiring an additional 19,367 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in Teleflex during the 3rd quarter valued at $4,800,000. Finally, Swedbank AB purchased a new stake in Teleflex in the first quarter worth $679,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Stock Up 0.4 %

Shares of NYSE TFX opened at $192.85 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.96 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. Teleflex Incorporated has a 12-month low of $185.66 and a 12-month high of $257.85. The stock’s fifty day simple moving average is $219.90 and its two-hundred day simple moving average is $222.43.

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

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho reduced their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex presently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

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.