Teleflex Incorporated (NYSE:TFX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,326 shares of the medical technology company's stock after selling 5,583 shares during the period. Bank of New York Mellon Corp owned about 0.70% of Teleflex worth $45,095,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Teleflex during the 4th quarter valued at approximately $29,000. Whipplewood Advisors LLC increased its holdings in Teleflex by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock worth $32,000 after purchasing an additional 231 shares during the last quarter. True Wealth Design LLC raised its position in shares of Teleflex by 62.3% in the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock valued at $48,000 after purchasing an additional 104 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Teleflex by 3,763.6% during the 1st quarter. UMB Bank n.a. now owns 425 shares of the medical technology company's stock valued at $59,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TFX shares. Mizuho set a $155.00 price target on shares of Teleflex in a research note on Wednesday, April 16th. Morgan Stanley dropped their target price on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company cut their target price on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price target on Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered Teleflex from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $164.63.

Teleflex Stock Performance

TFX traded down $0.43 on Tuesday, hitting $115.32. 57,939 shares of the company's stock were exchanged, compared to its average volume of 830,677. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $121.57 and a two-hundred day moving average of $142.82. Teleflex Incorporated has a twelve month low of $114.25 and a twelve month high of $249.90. The firm has a market cap of $5.10 billion, a PE ratio of 36.34, a P/E/G ratio of 1.82 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. During the same period in the prior year, the firm earned $3.21 EPS. The business's quarterly revenue was down 5.0% on a year-over-year basis. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, May 20th. Teleflex's payout ratio is 42.90%.

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.