The Manufacturers Life Insurance Company Cuts Position in Teleflex Incorporated (NYSE:TFX)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 16.4% in the third quarter, HoldingsChannel.com reports. The fund owned 129,652 shares of the medical technology company’s stock after selling 25,517 shares during the period. The Manufacturers Life Insurance Company’s holdings in Teleflex were worth $32,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Tidal Investments LLC grew its stake in Teleflex by 214.7% in the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock valued at $1,503,000 after purchasing an additional 4,533 shares during the period. Comerica Bank boosted its holdings in shares of Teleflex by 13.0% in the 1st quarter. Comerica Bank now owns 14,491 shares of the medical technology company’s stock worth $3,277,000 after buying an additional 1,662 shares during the last quarter. Swedbank AB bought a new position in Teleflex during the first quarter valued at about $679,000. Boston Partners increased its holdings in Teleflex by 105.9% during the first quarter. Boston Partners now owns 2,831 shares of the medical technology company’s stock worth $640,000 after buying an additional 1,456 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Teleflex by 2.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the medical technology company’s stock worth $1,606,000 after acquiring an additional 180 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Up 0.6 %

Shares of NYSE TFX opened at $193.08 on Friday. The business has a 50-day simple moving average of $219.90 and a two-hundred day simple moving average of $222.34. Teleflex Incorporated has a 52 week low of $185.66 and a 52 week high of $257.85. The company has a market cap of $8.97 billion, a P/E ratio of 38.39, a P/E/G ratio of 1.96 and a beta of 1.18. 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 (NYSE:TFX) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. The company 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%. Teleflex’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.64 earnings per share. Research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.70%. Teleflex’s payout ratio is currently 27.04%.

Analyst Ratings Changes

TFX has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. 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. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Stephens lifted their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Mizuho dropped their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Three 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.25.

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.