Bank of Montreal Can Trims Holdings in Teleflex Incorporated (NYSE:TFX)

Bank of Montreal Can lowered its holdings in Teleflex Incorporated (NYSE:TFX) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 51,696 shares of the medical technology company’s stock after selling 4,432 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Teleflex worth $12,760,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TFX. Cooke & Bieler LP lifted its holdings in shares of Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of 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 buying an additional 48,832 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Teleflex by 0.4% in 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 during the last quarter. Bank of New York Mellon Corp increased its position in Teleflex by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock valued at $89,526,000 after acquiring an additional 26,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 during the period. 95.62% of the stock is currently owned by institutional investors.

Teleflex Price Performance

Shares of NYSE:TFX opened at $192.85 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 38.34, a P/E/G ratio of 1.97 and a beta of 1.18. The firm has a fifty day moving average price of $219.90 and a 200 day moving average price of $222.43. Teleflex Incorporated has a fifty-two week low of $185.66 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last issued 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 firm 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 business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.64 earnings per share. As a group, sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. Teleflex’s dividend payout ratio (DPR) is 27.04%.

Analysts Set New Price Targets

Several research firms have recently commented on TFX. Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday. Truist Financial reiterated 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. Finally, Royal Bank of Canada reduced their price target 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

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.