Amalgamated Bank Reduces Holdings in Teleflex Incorporated (NYSE:TFX)

Amalgamated Bank reduced its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,267 shares of the medical technology company’s stock after selling 318 shares during the period. Amalgamated Bank’s holdings in Teleflex were worth $2,292,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after buying an additional 96,711 shares during the period. Janus Henderson Group PLC boosted its position in shares of Teleflex by 12.0% in the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after buying an additional 581,312 shares during the period. Cooke & Bieler LP raised its stake in shares of Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the period. TD Asset Management Inc boosted its position in Teleflex by 12.0% in the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after buying an additional 48,832 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Teleflex by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after purchasing an additional 26,325 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TFX shares. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho decreased their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial reissued a “hold” rating and issued a $227.00 price target (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Up 1.3 %

NYSE:TFX opened at $198.07 on Tuesday. The business’s fifty day moving average price is $235.39 and its 200 day moving average price is $223.87. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 2.00 and a beta of 1.18. Teleflex Incorporated has a 1-year low of $194.58 and a 1-year high of $257.85. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

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

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.69%. 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.