Bank of Montreal Can Boosts Holdings in Teleflex Incorporated (NYSE:TFX)

Bank of Montreal Can raised its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,128 shares of the medical technology company’s stock after buying an additional 1,680 shares during the period. Bank of Montreal Can owned about 0.12% of Teleflex worth $11,853,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Riverview Trust Co bought a new stake in Teleflex in the first quarter valued at approximately $31,000. Pineridge Advisors LLC purchased a new stake in Teleflex during the 4th quarter valued at $35,000. Canada Pension Plan Investment Board bought a new stake in Teleflex in the 2nd quarter worth $42,000. Versant Capital Management Inc increased its position in shares of Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TFX shares. Truist Financial boosted their price target on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada raised their price target on Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Finally, Stephens lifted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and an average target price of $265.57.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.43% of the company’s stock.

Teleflex Stock Performance

Shares of TFX opened at $246.83 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The stock has a market cap of $11.63 billion, a P/E ratio of 39.62, a P/E/G ratio of 2.23 and a beta of 1.16. The business’s 50 day moving average price is $237.48 and its 200-day moving average price is $221.18. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $257.85.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The business had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. During the same quarter in the prior year, the business earned $3.41 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.55%. Teleflex’s payout ratio is 21.83%.

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.