Teleflex Incorporated (NYSE:TFX) Shares Acquired by KBC Group NV

Posted by Defense World Staff on Aug 3rd, 2023

KBC Group NV increased its position in shares of Teleflex Incorporated (NYSE:TFX – Free Report) by 666.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,941 shares of the medical technology company’s stock after buying an additional 13,861 shares during the quarter. KBC Group NV’s holdings in Teleflex were worth $4,038,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Westpac Banking Corp grew its stake in Teleflex by 46.3% during the 1st quarter. Westpac Banking Corp now owns 32,147 shares of the medical technology company’s stock worth $8,143,000 after buying an additional 10,171 shares during the last quarter. Raymond James Trust N.A. grew its stake in Teleflex by 6.0% during the 1st quarter. Raymond James Trust N.A. now owns 2,155 shares of the medical technology company’s stock worth $546,000 after buying an additional 122 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in Teleflex by 11.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 22,443 shares of the medical technology company’s stock worth $5,685,000 after buying an additional 2,346 shares during the last quarter. Quantinno Capital Management LP purchased a new position in Teleflex during the 1st quarter worth approximately $450,000. Finally, Tobam grew its stake in Teleflex by 97.9% during the 1st quarter. Tobam now owns 285 shares of the medical technology company’s stock worth $72,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 3,021 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $245.71, for a total value of $742,289.91. Following the completion of the transaction, the director now directly owns 4,847 shares of the company’s stock, valued at $1,190,956.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TFX shares. Morgan Stanley reiterated an “equal weight” rating and issued a $261.00 target price on shares of Teleflex in a research note on Wednesday, July 19th. Truist Financial lifted their target price on Teleflex from $250.00 to $264.00 and gave the company a “hold” rating in a research note on Monday, April 17th. Mizuho lifted their target price on Teleflex from $220.00 to $250.00 in a research note on Tuesday, April 18th. Stephens lifted their target price on Teleflex from $305.00 to $315.00 in a research note on Thursday, July 27th. Finally, CL King initiated coverage on Teleflex in a research note on Tuesday, May 30th. They issued a “buy” rating and a $293.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $271.25.

Check Out Our Latest Research Report on Teleflex

Teleflex Stock Performance

Shares of TFX stock opened at $248.61 on Thursday. The stock has a fifty day moving average price of $243.21 and a 200 day moving average price of $246.38. The stock has a market cap of $11.66 billion, a PE ratio of 32.41, a P/E/G ratio of 2.65 and a beta of 1.00. Teleflex Incorporated has a 1 year low of $182.65 and a 1 year high of $276.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.41 and a current ratio of 2.48.

Teleflex (NYSE:TFX – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The medical technology company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.12. Teleflex had a return on equity of 15.80% and a net margin of 12.68%. The company had revenue of $710.90 million during the quarter, compared to analysts’ expectations of $687.11 million. During the same period in the previous year, the firm posted $2.88 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts forecast that Teleflex Incorporated will post 13.29 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. Teleflex’s dividend payout ratio (DPR) is 17.73%.

Teleflex Company Profile

(Free Report)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.