Teleflex Incorporated (NYSE:TFX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,909 shares of the medical technology company’s stock after selling 71,130 shares during the period. Bank of New York Mellon Corp owned about 0.71% of Teleflex worth $59,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its position in Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 101 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Teleflex during the third quarter worth $40,000. True Wealth Design LLC lifted its position in shares of Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Teleflex during the third quarter worth $54,000. Finally, IFP Advisors Inc lifted its position in shares of Teleflex by 238.5% during the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after purchasing an additional 217 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Teleflex Stock Down 3.2 %

TFX stock opened at $130.87 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a 1-year low of $128.55 and a 1-year high of $249.90. The firm has a fifty day moving average price of $173.65 and a two-hundred day moving average price of $203.17. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.73 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. Research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 1.04%. Teleflex’s payout ratio is 95.77%.

Analyst Upgrades and Downgrades

TFX has been the topic of a number of recent research reports. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $220.00 to $155.00 in a research report on Friday, February 28th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Teleflex currently has an average rating of “Hold” and an average price target of $181.43.

About Teleflex

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.