Bank of Nova Scotia Has $16.11 Million Stock Position in Teleflex Incorporated $TFX

Bank of Nova Scotia lifted its position in Teleflex Incorporated (NYSE:TFX) by 1,961.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,076 shares of the medical technology company’s stock after acquiring an additional 129,476 shares during the period. Bank of Nova Scotia owned about 0.31% of Teleflex worth $16,106,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TFX. Russell Investments Group Ltd. boosted its holdings in shares of Teleflex by 23.6% during the second quarter. Russell Investments Group Ltd. now owns 83,388 shares of the medical technology company’s stock worth $9,870,000 after purchasing an additional 15,935 shares during the period. NorthCrest Asset Manangement LLC purchased a new stake in Teleflex in the 2nd quarter worth approximately $299,000. Speece Thorson Capital Group Inc. boosted its stake in shares of Teleflex by 2.4% during the 2nd quarter. Speece Thorson Capital Group Inc. now owns 89,843 shares of the medical technology company’s stock valued at $10,634,000 after buying an additional 2,096 shares during the period. Creative Planning boosted its stake in shares of Teleflex by 76.5% during the 2nd quarter. Creative Planning now owns 10,338 shares of the medical technology company’s stock valued at $1,224,000 after buying an additional 4,480 shares during the period. Finally, CWM LLC increased its stake in shares of Teleflex by 160.8% in the second quarter. CWM LLC now owns 11,904 shares of the medical technology company’s stock worth $1,409,000 after acquiring an additional 7,340 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Up 9.7%

TFX opened at $131.46 on Wednesday. The firm has a market cap of $5.81 billion, a P/E ratio of -17.89, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 2.57. The business has a 50 day moving average price of $120.14 and a 200 day moving average price of $120.78. Teleflex Incorporated has a twelve month low of $102.58 and a twelve month high of $188.78.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, November 6th. The medical technology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.38 by $0.29. Teleflex had a positive return on equity of 15.64% and a negative net margin of 10.28%.The company had revenue of $892.90 million for the quarter, compared to the consensus estimate of $892.79 million. During the same quarter last year, the company posted $3.49 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. Teleflex has set its FY 2025 guidance at 14.000-14.200 EPS. Research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 1.0%. Teleflex’s payout ratio is currently -18.50%.

Analyst Ratings Changes

A number of analysts recently issued reports on TFX shares. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Tuesday. Truist Financial reduced their price target on Teleflex from $128.00 to $120.00 and set a “hold” rating for the company in a report on Monday, November 10th. Royal Bank Of Canada lowered their price target on Teleflex from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, November 7th. Wall Street Zen lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Teleflex in a research report on Monday. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Teleflex currently has an average rating of “Reduce” and a consensus target price of $134.57.

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.