Deutsche Bank AG Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Key Points

• Deutsche Bank AG significantly reduced its stake in Teleflex by 79.4% during the first quarter, now owning approximately 0.18% of the company valued at about $11.6 million.
• Several other institutional investors made significant adjustments, with MassMutual Private Wealth & Trust FSB increasing its holdings by 103.1% and Whipplewood Advisors LLC boosting its position by 7,700%.
• Teleflex reported earnings of $3.73 EPS for the last quarter, exceeding analysts' expectations and reflecting a 4.2% increase in revenue year-over-year.

Deutsche Bank AG lessened its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 79.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,992 shares of the medical technology company's stock after selling 323,137 shares during the quarter. Deutsche Bank AG owned about 0.18% of Teleflex worth $11,607,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TFX. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Teleflex by 103.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Teleflex during the 1st quarter valued at about $27,000. Costello Asset Management INC purchased a new stake in shares of Teleflex during the 1st quarter valued at about $28,000. Whipplewood Advisors LLC boosted its holdings in shares of Teleflex by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock valued at $32,000 after acquiring an additional 231 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Teleflex by 504.8% during the 1st quarter. Allworth Financial LP now owns 254 shares of the medical technology company's stock valued at $34,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TFX shares. Royal Bank Of Canada raised their price objective on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Morgan Stanley dropped their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Truist Financial dropped their price objective on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Teleflex presently has a consensus rating of "Hold" and an average price target of $141.57.

Teleflex Price Performance

NYSE TFX opened at $121.68 on Friday. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $249.90. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 1.71 and a beta of 1.08. The company's 50 day moving average is $117.97 and its two-hundred day moving average is $133.22. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, topping analysts' consensus estimates of $3.36 by $0.37. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. The company had revenue of $780.90 million for the quarter, compared to analysts' expectations of $771.53 million. During the same quarter last year, the business earned $3.42 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.1%. Teleflex's dividend payout ratio (DPR) is presently 32.00%.

Insider Activity

In related news, CEO Liam Kelly acquired 1,500 shares of Teleflex stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $115.07 per share, for a total transaction of $172,605.00. Following the completion of the transaction, the chief executive officer directly owned 45,267 shares in the company, valued at approximately $5,208,873.69. This represents a 3.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stuart A. Randle acquired 1,000 shares of Teleflex stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of $115.86 per share, for a total transaction of $115,860.00. Following the transaction, the director owned 7,547 shares of the company's stock, valued at approximately $874,395.42. The trade was a 15.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 5,500 shares of company stock valued at $633,590. Company insiders own 1.40% of the company's stock.

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.

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