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

KBC Group NV lessened its position in shares of Teleflex Incorporated (NYSE:TFX) by 63.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,670 shares of the medical technology company’s stock after selling 2,907 shares during the quarter. KBC Group NV’s holdings in Teleflex were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Teleflex during the fourth quarter worth $29,000. Whipplewood Advisors LLC increased its position in shares of Teleflex by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 231 shares during the period. True Wealth Design LLC increased its position in shares of Teleflex by 62.3% during the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 104 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Teleflex by 3,763.6% during the first quarter. UMB Bank n.a. now owns 425 shares of the medical technology company’s stock worth $59,000 after acquiring an additional 414 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

NYSE TFX opened at $119.90 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32. Teleflex Incorporated has a 1 year low of $115.94 and a 1 year high of $249.91. The company has a market capitalization of $5.30 billion, a PE ratio of 37.82, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a fifty day moving average of $123.14 and a two-hundred day moving average of $145.36.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.03. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The company had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. During the same quarter in the prior year, the firm posted $3.21 earnings per share. Teleflex’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.13%. Teleflex’s payout ratio is 42.90%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TFX. Mizuho set a $155.00 price objective on Teleflex in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. Morgan Stanley lowered their target price on shares of Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Truist Financial lowered their target price on shares of Teleflex from $140.00 to $137.00 and set a “hold” rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Teleflex has an average rating of “Hold” and an average price target of $164.63.

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.