DekaBank Deutsche Girozentrale Sells 101,150 Shares of Teleflex Incorporated (NYSE:TFX)

DekaBank Deutsche Girozentrale reduced its stake in Teleflex Incorporated (NYSE:TFX) by 93.2% during the third quarter, HoldingsChannel.com reports. The firm owned 7,366 shares of the medical technology company’s stock after selling 101,150 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Teleflex were worth $1,792,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TFX. First Trust Direct Indexing L.P. boosted its position in shares of Teleflex by 6.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 1,254 shares of the medical technology company’s stock worth $284,000 after purchasing an additional 73 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Teleflex in the 1st quarter worth approximately $2,467,000. BNP Paribas Financial Markets raised its holdings in Teleflex by 54.2% in the 1st quarter. BNP Paribas Financial Markets now owns 61,268 shares of the medical technology company’s stock worth $13,857,000 after acquiring an additional 21,533 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Teleflex by 6.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company’s stock worth $328,000 after acquiring an additional 85 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Teleflex by 17.4% in the 1st quarter. Nordea Investment Management AB now owns 3,481 shares of the medical technology company’s stock worth $782,000 after acquiring an additional 517 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TFX. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday. Royal Bank of Canada decreased their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial boosted their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Mizuho decreased their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday. Finally, Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $262.75.

Teleflex Price Performance

Shares of TFX opened at $211.21 on Friday. Teleflex Incorporated has a 1-year low of $190.49 and a 1-year high of $257.85. The firm has a fifty day simple moving average of $239.55 and a two-hundred day simple moving average of $223.93. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $9.95 billion, a PE ratio of 37.92, a P/E/G ratio of 2.13 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the previous year, the firm posted $3.64 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 0.64%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is 24.42%.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.43% of the company’s stock.

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.