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

Huntington National Bank lifted its position in shares of Teleflex Incorporated (NYSE:TFX) by 32.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310 shares of the medical technology company’s stock after purchasing an additional 76 shares during the quarter. Huntington National Bank’s holdings in Teleflex were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in Teleflex by 1.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after purchasing an additional 46 shares in the last quarter. Cromwell Holdings LLC raised 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 worth $33,000 after buying an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Teleflex by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after buying an additional 53 shares during the period. Apollon Wealth Management LLC boosted its stake in Teleflex by 3.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after buying an additional 55 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Teleflex by 0.3% in the second quarter. SRS Capital Advisors Inc. now owns 19,527 shares of the medical technology company’s stock valued at $4,107,000 after acquiring an additional 62 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial reissued a “hold” rating and set a $227.00 price objective (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Royal Bank of Canada decreased their price objective 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. Mizuho cut their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Performance

TFX stock opened at $194.43 on Tuesday. The company has a 50 day moving average price of $230.35 and a 200 day moving average price of $223.37. Teleflex Incorporated has a fifty-two week low of $189.95 and a fifty-two week high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The stock has a market capitalization of $9.03 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18.

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

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend 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%.

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.