M&T Bank Corp Sells 112 Shares of Teleflex Incorporated (NYSE:TFX)

M&T Bank Corp reduced its stake in Teleflex Incorporated (NYSE:TFX) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,451 shares of the medical technology company’s stock after selling 112 shares during the quarter. M&T Bank Corp’s holdings in Teleflex were worth $853,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Teleflex by 2.8% during the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after purchasing an additional 147,147 shares during the period. State Street Corp increased its position in Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after buying an additional 21,291 shares during the period. 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 worth $191,989,000 after buying an additional 172,335 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Teleflex by 12.0% in the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after acquiring an additional 48,832 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Teleflex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock valued at $105,749,000 after acquiring an additional 1,884 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Mizuho cut their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Royal Bank of Canada reduced their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Truist Financial reissued a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Monday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Teleflex Price Performance

Shares of TFX stock opened at $177.25 on Tuesday. The business has a fifty day simple moving average of $207.16 and a 200 day simple moving average of $220.52. The company has a market cap of $8.23 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.84 and a beta of 1.16. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a twelve month low of $176.65 and a twelve month high of $257.85.

Teleflex (NYSE:TFX) last posted 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. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.64 earnings per share. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.77%. Teleflex’s payout ratio is presently 27.04%.

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.