BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stock Position in Teleflex Incorporated (NYSE:TFX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Teleflex Incorporated (NYSE:TFX) by 621.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,698 shares of the medical technology company’s stock after buying an additional 26,442 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Teleflex were worth $6,457,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Teleflex by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after purchasing an additional 96,711 shares during the period. Janus Henderson Group PLC increased its stake in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after buying an additional 581,312 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Teleflex by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after acquiring an additional 52,533 shares in the last quarter. Norges Bank acquired a new stake in shares of Teleflex in the fourth quarter worth approximately $118,665,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Teleflex by 9.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock worth $107,949,000 after purchasing an additional 35,847 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

TFX has been the subject of a number of research reports. Stephens upped their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Truist Financial lifted their price target on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Teleflex Trading Up 0.7 %

NYSE TFX opened at $245.17 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. The stock has a market capitalization of $11.55 billion, a P/E ratio of 39.35, a PEG ratio of 2.19 and a beta of 1.13. The firm’s 50-day moving average is $225.49 and its two-hundred day moving average is $219.75. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same period in the prior year, the business posted $3.41 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.55%. Teleflex’s dividend payout ratio is presently 21.83%.

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.