CIBC Asset Management Inc lifted its position in shares of Teleflex Incorporated (NYSE:TFX) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,013 shares of the medical technology company’s stock after buying an additional 61 shares during the period. CIBC Asset Management Inc’s holdings in Teleflex were worth $1,461,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ellevest Inc. lifted its stake in shares of Teleflex by 102.1% during the first quarter. Ellevest Inc. now owns 95 shares of the medical technology company’s stock valued at $28,000 after buying an additional 48 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of Teleflex by 816.7% during the first quarter. Contravisory Investment Management Inc. now owns 110 shares of the medical technology company’s stock valued at $32,000 after buying an additional 98 shares during the period. Signaturefd LLC lifted its stake in shares of Teleflex by 431.8% during the first quarter. Signaturefd LLC now owns 117 shares of the medical technology company’s stock valued at $34,000 after buying an additional 95 shares during the period. Winslow Evans & Crocker Inc. lifted its stake in shares of Teleflex by 46.9% during the second quarter. Winslow Evans & Crocker Inc. now owns 94 shares of the medical technology company’s stock valued at $34,000 after buying an additional 30 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in shares of Teleflex during the second quarter valued at approximately $71,000. 91.20% of the stock is currently owned by institutional investors and hedge funds.
TFX has been the topic of several recent analyst reports. Wells Fargo & Co upped their price objective on shares of Teleflex from $365.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Raymond James upped their price target on shares of Teleflex from $400.00 to $440.00 and gave the stock a “strong-buy” rating in a research report on Friday. Piper Sandler dropped their price target on shares of Teleflex from $425.00 to $375.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. UBS Group dropped their price target on shares of Teleflex from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, SVB Leerink upped their price target on shares of Teleflex from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $389.40.
Teleflex stock opened at $373.10 on Friday. Teleflex Incorporated has a 52-week low of $221.27 and a 52-week high of $405.07. The firm has a fifty day moving average of $368.12 and a 200-day moving average of $350.56. The firm has a market capitalization of $17.32 billion, a P/E ratio of 36.72, a PEG ratio of 2.92 and a beta of 1.01. The company has a quick ratio of 2.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.78.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, July 30th. The medical technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.68. Teleflex had a net margin of 18.99% and a return on equity of 17.15%. The company had revenue of $567.00 million during the quarter, compared to analyst estimates of $537.85 million. During the same quarter in the prior year, the business earned $2.66 earnings per share. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. On average, research analysts expect that Teleflex Incorporated will post 10.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Thursday, August 13th. Teleflex’s payout ratio is currently 12.20%.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $386.35, for a total value of $77,270.00. Following the completion of the transaction, the director now directly owns 1,321 shares in the company, valued at $510,368.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John Deren sold 1,093 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $330.10, for a total transaction of $360,799.30. Following the completion of the transaction, the chief accounting officer now owns 1,253 shares of the company’s stock, valued at $413,615.30. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.
Teleflex Company 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. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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