TD Asset Management Inc Has $67.71 Million Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Key Points

• TD Asset Management Inc increased its stake in Teleflex Incorporated by 0.7%, owning 490,000 shares valued at approximately $67.71 million as of the end of the first quarter.
• Teleflex reported $2.91 EPS in its latest quarter, surpassing expectations, but experienced a 5.0% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.34, representing an annual yield of 1.16%, with a payout ratio of 42.90%.

TD Asset Management Inc grew its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 490,000 shares of the medical technology company's stock after acquiring an additional 3,310 shares during the quarter. TD Asset Management Inc owned 1.06% of Teleflex worth $67,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in shares of Teleflex in the first quarter valued at approximately $1,242,000. Amalgamated Bank boosted its position in shares of Teleflex by 56.9% in the first quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock valued at $1,941,000 after acquiring an additional 5,095 shares during the period. New York State Teachers Retirement System boosted its position in shares of Teleflex by 13.9% in the first quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock valued at $6,227,000 after acquiring an additional 5,482 shares during the period. Brown Advisory Inc. boosted its position in shares of Teleflex by 34.2% in the first quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock valued at $349,000 after acquiring an additional 643 shares during the period. Finally, CX Institutional bought a new stake in shares of Teleflex in the first quarter valued at approximately $105,000. 95.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank Of Canada set a $130.00 target price on Teleflex and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. Wells Fargo & Company cut their target price on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley cut their target price on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Truist Financial cut their target price on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Mizuho cut their target price on Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $159.63.

Teleflex Price Performance

Teleflex stock traded up $7.64 during mid-day trading on Thursday, hitting $121.55. 389,009 shares of the company were exchanged, compared to its average volume of 811,565. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $118.86 and a 200 day moving average of $138.01. Teleflex Incorporated has a 1-year low of $108.90 and a 1-year high of $249.90. The company has a market capitalization of $5.37 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.36 by $0.37. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. During the same quarter last year, the company earned $3.42 earnings per share. The firm's quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.12%. Teleflex's dividend payout ratio (DPR) is presently 42.90%.

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.