Bank of New York Mellon Corp reduced its position in Teleflex Incorporated (NYSE:TFX) by 12.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 569,310 shares of the medical technology company’s stock after selling 83,505 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.26% of Teleflex worth $137,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in TFX. Toronto Dominion Bank grew its position in shares of Teleflex by 14.5% in the second quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 70 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Teleflex by 933.8% in the second quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after purchasing an additional 747 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Teleflex in the second quarter valued at $175,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Teleflex in the second quarter valued at $200,000. Finally, Calamos Advisors LLC purchased a new position in shares of Teleflex in the second quarter valued at $206,000. 89.11% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on TFX. Jefferies Group LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Teleflex in a research report on Thursday, August 3rd. BidaskClub lowered Teleflex from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG lowered Teleflex from a “buy” rating to a “hold” rating and set a $251.00 price objective for the company. in a research note on Tuesday, November 14th. Morgan Stanley lifted their price objective on Teleflex from $274.00 to $290.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Finally, Piper Jaffray Companies began coverage on Teleflex in a research note on Friday, November 10th. They set an “overweight” rating and a $295.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $274.44.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $241.88, for a total transaction of $48,376.00. Following the completion of the sale, the director now owns 8,080 shares of the company’s stock, valued at $1,954,390.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 600 shares of company stock valued at $138,162. Corporate insiders own 2.39% of the company’s stock.
Shares of Teleflex Incorporated (NYSE TFX) opened at $267.60 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.70 and a current ratio of 4.72. Teleflex Incorporated has a 52 week low of $142.97 and a 52 week high of $269.78. The stock has a market capitalization of $12,011.94, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.28 and a beta of 1.05.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.11. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The firm had revenue of $534.70 million during the quarter, compared to analyst estimates of $522.94 million. During the same quarter in the previous year, the company posted $1.80 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. sell-side analysts forecast that Teleflex Incorporated will post 8.35 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is currently 24.82%.
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Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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