Raymond James Trust N.A. Purchases 108 Shares of Teleflex Incorporated (NYSE:TFX)

Raymond James Trust N.A. grew its position in Teleflex Incorporated (NYSE:TFX) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the medical technology company’s stock after acquiring an additional 108 shares during the quarter. Raymond James Trust N.A.’s holdings in Teleflex were worth $522,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TFX. Cooke & Bieler LP lifted its position in Teleflex by 23.3% in the second 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 period. TD Asset Management Inc boosted its position in shares of Teleflex by 12.0% during 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 acquiring an additional 48,832 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Teleflex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock valued at $105,749,000 after acquiring an additional 1,884 shares during the period. Bank of New York Mellon Corp raised its position in Teleflex by 6.6% in the second 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Teleflex by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock worth $83,741,000 after purchasing an additional 15,992 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of Teleflex stock opened at $194.60 on Tuesday. 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 firm has a 50 day simple moving average of $223.96 and a 200 day simple moving average of $222.96. Teleflex Incorporated has a fifty-two week low of $185.66 and a fifty-two week high of $257.85. The firm has a market cap of $9.04 billion, a P/E ratio of 38.69, a P/E/G ratio of 1.96 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. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the previous year, the company posted $3.64 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. Teleflex’s payout ratio is presently 27.04%.

Analyst Upgrades and Downgrades

TFX has been the subject of a number of recent research reports. Truist Financial reissued a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Mizuho reduced their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex 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.