Huntington National Bank Buys 76 Shares of Teleflex Incorporated (NYSE:TFX)

Huntington National Bank boosted its stake in Teleflex Incorporated (NYSE:TFX) by 32.5% in the third quarter, HoldingsChannel reports. The firm owned 310 shares of the medical technology company’s stock after acquiring an additional 76 shares during the period. Huntington National Bank’s holdings in Teleflex were worth $77,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TFX. Cromwell Holdings LLC grew its holdings in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after buying an additional 49 shares during the period. Ashton Thomas Securities LLC acquired a new position in Teleflex in the third quarter valued at about $40,000. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex during the second quarter worth about $42,000. GAMMA Investing LLC lifted its holdings in shares of Teleflex by 131.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Price Performance

NYSE:TFX opened at $194.43 on Tuesday. Teleflex Incorporated has a 52-week low of $189.95 and a 52-week high of $257.85. The company has a market cap of $9.03 billion, a P/E ratio of 38.65, a P/E/G ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The stock’s 50-day simple moving average is $230.35 and its 200 day simple moving average is $223.37.

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

Teleflex Announces Dividend

The company 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 $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reiterated a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Mizuho dropped their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.25.

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.