Toronto Dominion Bank Cuts Holdings in Teleflex Incorporated (NYSE:TFX)

Toronto Dominion Bank decreased its position in Teleflex Incorporated (NYSE:TFXGet Rating) by 13.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,324 shares of the medical technology company’s stock after selling 3,325 shares during the period. Toronto Dominion Bank’s holdings in Teleflex were worth $5,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Teleflex by 1.7% in the first quarter. Vanguard Group Inc. now owns 5,147,062 shares of the medical technology company’s stock valued at $1,826,333,000 after buying an additional 83,858 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in Teleflex by 484.1% in the second quarter. Ceredex Value Advisors LLC now owns 779,524 shares of the medical technology company’s stock valued at $191,646,000 after buying an additional 646,074 shares in the last quarter. Northern Trust Corp increased its holdings in Teleflex by 1.3% in the first quarter. Northern Trust Corp now owns 489,566 shares of the medical technology company’s stock valued at $173,712,000 after buying an additional 6,364 shares in the last quarter. Brown Advisory Inc. increased its holdings in Teleflex by 493.8% in the second quarter. Brown Advisory Inc. now owns 401,178 shares of the medical technology company’s stock valued at $98,828,000 after buying an additional 333,618 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Teleflex by 4.0% in the first quarter. Bank of America Corp DE now owns 372,461 shares of the medical technology company’s stock valued at $132,161,000 after buying an additional 14,189 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Teleflex Stock Performance

NYSE:TFX opened at $225.71 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.39 and a quick ratio of 1.52. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 2.56 and a beta of 1.09. The company’s 50-day moving average is $207.47 and its two-hundred day moving average is $238.92. Teleflex Incorporated has a 1-year low of $182.65 and a 1-year high of $356.72.

Teleflex (NYSE:TFXGet Rating) last posted its earnings results on Thursday, October 27th. The medical technology company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. The company had revenue of $686.80 million for the quarter, compared to analyst estimates of $691.52 million. Teleflex had a net margin of 14.76% and a return on equity of 16.26%. Teleflex’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.51 EPS. Analysts forecast that Teleflex Incorporated will post 12.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.36 annualized dividend and a yield of 0.60%. Teleflex’s payout ratio is 15.60%.

Analysts Set New Price Targets

TFX has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Teleflex from $278.00 to $236.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 11th. StockNews.com initiated coverage on shares of Teleflex in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Stephens cut their target price on shares of Teleflex from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. Piper Sandler cut their target price on shares of Teleflex from $265.00 to $245.00 in a research note on Thursday, October 27th. Finally, Mizuho assumed coverage on shares of Teleflex in a research note on Wednesday, October 26th. They set a “neutral” rating and a $220.00 target price for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $271.46.

Teleflex Profile

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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 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.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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