PNC Financial Services Group Inc. Has $24,734,000 Stake in Teleflex Inc. (TFX)
PNC Financial Services Group Inc. increased its position in Teleflex Inc. (NYSE:TFX) by 522.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 147,184 shares of the medical technology company’s stock after buying an additional 123,542 shares during the period. PNC Financial Services Group Inc. owned 0.33% of Teleflex worth $24,734,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of TFX. Checchi Capital Advisers LLC boosted its position in Teleflex by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 837 shares of the medical technology company’s stock valued at $148,000 after buying an additional 7 shares during the period. Synovus Financial Corp boosted its position in Teleflex by 0.5% in the second quarter. Synovus Financial Corp now owns 3,403 shares of the medical technology company’s stock valued at $606,000 after buying an additional 18 shares during the period. Glenmede Trust Co. NA boosted its position in Teleflex by 2.7% in the second quarter. Glenmede Trust Co. NA now owns 1,849 shares of the medical technology company’s stock valued at $327,000 after buying an additional 49 shares during the period. Veritable L.P. boosted its position in Teleflex by 1.2% in the second quarter. Veritable L.P. now owns 5,037 shares of the medical technology company’s stock valued at $893,000 after buying an additional 60 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Teleflex by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the medical technology company’s stock valued at $2,057,000 after buying an additional 100 shares during the period. 93.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Teleflex Inc. (NYSE:TFX) traded down 0.1817% during midday trading on Tuesday, hitting $149.8173. The company had a trading volume of 71,534 shares. Teleflex Inc. has a 12-month low of $125.28 and a 12-month high of $188.79. The firm has a market capitalization of $6.60 billion, a P/E ratio of 25.8752 and a beta of 0.88. The firm’s 50-day moving average is $153.53 and its 200-day moving average is $169.31.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 27th. The medical technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.02. Teleflex had a return on equity of 15.66% and a net margin of 15.09%. The firm had revenue of $455.60 million for the quarter, compared to analyst estimates of $461.80 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Teleflex Inc. will post $7.30 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 10th. Teleflex’s payout ratio is 23.49%.
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Several research firms have weighed in on TFX. Zacks Investment Research raised Teleflex from a “sell” rating to a “hold” rating in a research note on Saturday. Stephens cut Teleflex from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 28th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Teleflex currently has an average rating of “Buy” and a consensus target price of $171.33.
Teleflex Company Profile
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.
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