The Manufacturers Life Insurance Company Has $32.07 Million Stock Position in Teleflex Incorporated (NYSE:TFX)

The Manufacturers Life Insurance Company reduced its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,652 shares of the medical technology company's stock after selling 25,517 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.28% of Teleflex worth $32,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its position in shares of Teleflex by 10.9% in the third quarter. Daiwa Securities Group Inc. now owns 11,295 shares of the medical technology company's stock valued at $2,793,000 after acquiring an additional 1,106 shares during the period. Cerity Partners LLC boosted its stake in shares of Teleflex by 49.3% in the third quarter. Cerity Partners LLC now owns 13,374 shares of the medical technology company's stock valued at $3,308,000 after buying an additional 4,415 shares during the period. Raymond James Trust N.A. grew its position in Teleflex by 5.4% during the third quarter. Raymond James Trust N.A. now owns 2,110 shares of the medical technology company's stock worth $522,000 after buying an additional 108 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Teleflex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company's stock worth $105,749,000 after acquiring an additional 1,884 shares during the period. Finally, Cypress Capital Group acquired a new position in Teleflex in the 3rd quarter valued at $223,000. Institutional investors own 95.62% of the company's stock.

Wall Street Analysts Forecast Growth

TFX has been the topic of several analyst reports. Truist Financial reissued a "hold" rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Mizuho decreased their target price on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a report on Friday, November 1st. StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Royal Bank of Canada lowered their target price on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $259.25.

Teleflex Trading Up 0.4 %

Shares of TFX stock traded up $0.85 during mid-day trading on Friday, reaching $192.85. 400,527 shares of the stock traded hands, compared to its average volume of 381,915. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. 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 fifty day simple moving average is $219.90 and its two-hundred day simple moving average is $222.41. Teleflex Incorporated has a 1-year low of $185.66 and a 1-year high of $257.85.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same period last year, the company earned $3.64 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

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

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.