PNC Financial Services Group Inc. Has $4.36 Million Stock Holdings in Teleflex Incorporated (NYSE:TFX)

PNC Financial Services Group Inc. increased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,640 shares of the medical technology company’s stock after purchasing an additional 902 shares during the period. PNC Financial Services Group Inc.’s holdings in Teleflex were worth $4,363,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Teleflex during the third quarter worth approximately $716,000. Banque Cantonale Vaudoise grew its stake in Teleflex by 184.8% during the third quarter. Banque Cantonale Vaudoise now owns 225 shares of the medical technology company’s stock worth $56,000 after purchasing an additional 146 shares during the period. LGT Capital Partners LTD. grew its stake in Teleflex by 4.2% during the third quarter. LGT Capital Partners LTD. now owns 231,685 shares of the medical technology company’s stock worth $57,300,000 after purchasing an additional 9,411 shares during the period. Pathstone Holdings LLC grew its stake in Teleflex by 34.8% during the third quarter. Pathstone Holdings LLC now owns 8,700 shares of the medical technology company’s stock worth $2,152,000 after purchasing an additional 2,245 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Teleflex by 21.3% during the third quarter. Thrivent Financial for Lutherans now owns 21,303 shares of the medical technology company’s stock worth $5,269,000 after purchasing an additional 3,736 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Up 0.6 %

TFX stock opened at $191.71 on Monday. Teleflex Incorporated has a twelve month low of $185.66 and a twelve month high of $257.85. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $224.99 and its 200-day moving average is $223.03. The firm has a market capitalization of $8.90 billion, a PE ratio of 38.11, a P/E/G ratio of 1.95 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter last year, the company earned $3.64 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Analyst Ratings Changes

Several research analysts have issued reports on TFX shares. Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial reiterated a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Stephens increased their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Mizuho cut their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex 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. 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.