Teleflex Incorporated (NYSE:TFX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,909 shares of the medical technology company's stock after selling 71,130 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of Teleflex worth $59,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of Teleflex by 29,127.3% during the 3rd quarter. International Assets Investment Management LLC now owns 3,215 shares of the medical technology company's stock worth $795,000 after buying an additional 3,204 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Teleflex by 72.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,177 shares of the medical technology company's stock worth $786,000 after acquiring an additional 1,337 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Teleflex by 0.4% in the third quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company's stock worth $3,792,000 after acquiring an additional 65 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Teleflex in the third quarter valued at approximately $687,000. Finally, Forum Financial Management LP bought a new position in Teleflex during the 3rd quarter worth approximately $215,000. Institutional investors own 95.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TFX shares. Raymond James downgraded Teleflex from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Morgan Stanley cut their price objective on Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a research report on Wednesday. Bank of America lowered Teleflex from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $235.00 to $140.00 in a research note on Tuesday. StockNews.com cut Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Truist Financial dropped their price objective on shares of Teleflex from $200.00 to $149.00 and set a "hold" rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $182.63.

Teleflex Stock Up 2.7 %

Shares of Teleflex stock traded up $3.59 during midday trading on Wednesday, hitting $134.38. The company had a trading volume of 1,400,165 shares, compared to its average volume of 813,759. 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 company has a 50 day moving average of $173.65 and a 200 day moving average of $203.17. Teleflex Incorporated has a 52-week low of $128.55 and a 52-week high of $249.90. The stock has a market capitalization of $6.24 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.73 and a beta of 1.16.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. On average, equities analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 1.01%. Teleflex's dividend payout ratio is presently 95.77%.

Teleflex Company 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.