KBC Group NV Raises Stock Position in Teleflex Incorporated (NYSE:TFX)

KBC Group NV lifted its stake in Teleflex Incorporated (NYSE:TFX) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,577 shares of the medical technology company’s stock after buying an additional 535 shares during the period. KBC Group NV’s holdings in Teleflex were worth $1,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cromwell Holdings LLC grew its holdings in shares of Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Teleflex during the 3rd quarter worth approximately $40,000. Canada Pension Plan Investment Board purchased a new stake in Teleflex in the second quarter valued at approximately $42,000. GAMMA Investing LLC raised its position in Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 97 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFX has been the subject of several recent research reports. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reduced their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 price objective (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Finally, Mizuho lowered their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Up 1.2 %

Teleflex stock opened at $194.43 on Tuesday. The stock’s 50 day moving average price is $230.35 and its 200 day moving average price is $223.37. Teleflex Incorporated has a 1-year low of $189.95 and a 1-year high of $257.85. The company has a market cap of $9.03 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.64 EPS. On average, sell-side analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. Teleflex’s payout ratio is 27.04%.

About Teleflex

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.