Atlantic Union Bankshares Corp Decreases Position in Teleflex Incorporated (NYSE:TFX)

Atlantic Union Bankshares Corp decreased its stake in Teleflex Incorporated (NYSE:TFX) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,140 shares of the medical technology company’s stock after selling 80 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Teleflex were worth $529,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in Teleflex by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after buying an additional 46 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Teleflex by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after purchasing an additional 53 shares during the period. Apollon Wealth Management LLC grew its holdings in Teleflex by 3.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after purchasing an additional 55 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Teleflex by 0.3% in the 3rd quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after purchasing an additional 60 shares during the period. Institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

TFX opened at $193.08 on Friday. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 1.96 and a beta of 1.18. 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 business’s fifty day simple moving average is $219.90 and its 200-day simple moving average is $222.34.

Teleflex (NYSE:TFX) last released its quarterly earnings data 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. The company had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.64 earnings per share. On average, equities 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 will be paid on Monday, December 16th. Investors 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 yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Analyst Ratings Changes

Several brokerages have issued reports on TFX. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Mizuho decreased their target price 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, StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.