M&T Bank Corp Has $853,000 Position in Teleflex Incorporated (NYSE:TFX)

M&T Bank Corp cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,451 shares of the medical technology company’s stock after selling 112 shares during the period. M&T Bank Corp’s holdings in Teleflex were worth $853,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TFX. Point72 Asset Management L.P. raised its stake in shares of Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after acquiring an additional 263,743 shares during the last quarter. Cooke & Bieler LP raised its position in Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Teleflex by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after buying an additional 147,147 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of Teleflex in the 2nd quarter valued at about $25,550,000. Finally, FMR LLC increased its stake in shares of Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock valued at $66,650,000 after buying an additional 111,086 shares during the period. 95.62% of the stock is owned by institutional investors.

Teleflex Stock Performance

Shares of Teleflex stock opened at $177.25 on Tuesday. The business has a 50-day simple moving average of $207.16 and a 200 day simple moving average of $220.52. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex Incorporated has a one year low of $176.65 and a one year high of $257.85.

Teleflex (NYSE:TFX) last issued 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. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same period in the prior year, the firm earned $3.64 earnings per share. Teleflex’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Analysts Set New Price Targets

TFX has been the subject of a number of recent analyst reports. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Royal Bank of Canada lowered their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Monday. Mizuho lowered their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Truist Financial restated a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

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.