Atlantic Union Bankshares Corp Cuts Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Atlantic Union Bankshares Corp lowered its position in shares of Teleflex Incorporated (NYSE:TFX) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,140 shares of the medical technology company’s stock after selling 80 shares during the period. Atlantic Union Bankshares Corp’s holdings in Teleflex were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its stake in shares of Teleflex by 564.3% in the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock worth $65,304,000 after purchasing an additional 263,743 shares during the last quarter. Cooke & Bieler LP boosted its holdings in shares of Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after acquiring an additional 172,335 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of Teleflex in the second quarter worth approximately $25,550,000. FMR LLC raised its holdings in shares of Teleflex by 70.1% during the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock valued at $66,650,000 after purchasing an additional 111,086 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Teleflex by 1,008.2% during the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock valued at $24,388,000 after purchasing an additional 104,935 shares during the period. 95.62% of the stock is owned by institutional investors.

Teleflex Stock Up 0.6 %

Shares of TFX opened at $193.08 on Friday. The business’s 50 day moving average is $219.90 and its 200 day moving average is $222.34. 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 Incorporated has a 12-month low of $185.66 and a 12-month high of $257.85. The company has a market capitalization of $8.97 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter last year, the business posted $3.64 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TFX shares. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Teleflex 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 stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial reiterated a “hold” rating and issued a $227.00 price target (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex has an average rating of “Moderate Buy” and an average price target of $259.25.

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.