Franklin Resources Inc. cut its holdings in Teleflex Incorporated (NYSE:TFX – Get Rating) by 27.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 425,780 shares of the medical technology company’s stock after selling 160,162 shares during the quarter. Franklin Resources Inc. owned about 0.91% of Teleflex worth $104,678,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in TFX. Hartford Investment Management Co. raised its position in shares of Teleflex by 0.9% in the 2nd quarter. Hartford Investment Management Co. now owns 4,487 shares of the medical technology company’s stock valued at $1,103,000 after purchasing an additional 41 shares during the last quarter. CIBC Asset Management Inc increased its stake in Teleflex by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 4,471 shares of the medical technology company’s stock valued at $1,586,000 after purchasing an additional 45 shares in the last quarter. Security Asset Management raised its holdings in shares of Teleflex by 0.6% in the second quarter. Security Asset Management now owns 7,257 shares of the medical technology company’s stock worth $1,784,000 after buying an additional 45 shares during the last quarter. Comerica Bank lifted its stake in shares of Teleflex by 0.6% during the second quarter. Comerica Bank now owns 7,463 shares of the medical technology company’s stock worth $1,900,000 after buying an additional 46 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in shares of Teleflex by 12.1% during the second quarter. Dupont Capital Management Corp now owns 444 shares of the medical technology company’s stock valued at $109,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on TFX shares. StockNews.com assumed coverage on Teleflex in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Mizuho assumed coverage on Teleflex in a report on Wednesday, October 26th. They set a “neutral” rating and a $220.00 target price for the company. Piper Sandler cut their price target on shares of Teleflex from $265.00 to $245.00 in a report on Thursday, October 27th. Stephens reduced their price target on shares of Teleflex from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Finally, Morgan Stanley reduced their price target on shares of Teleflex from $278.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $271.46.
Teleflex Price Performance
Teleflex (NYSE:TFX – Get Rating) last posted its earnings results on Thursday, October 27th. The medical technology company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. The firm had revenue of $686.80 million during the quarter, compared to analyst estimates of $691.52 million. Teleflex had a net margin of 14.76% and a return on equity of 16.26%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.51 EPS. Equities research analysts forecast that Teleflex Incorporated will post 12.98 EPS for the current year.
Teleflex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.60%. Teleflex’s dividend payout ratio is currently 15.60%.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.
- Get a free copy of the StockNews.com research report on Teleflex (TFX)
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