Teleflex Incorporated (NYSE:TFX) Shares Bought by ING Groep NV

ING Groep NV grew its stake in Teleflex Incorporated (NYSE:TFX) by 39.0% during the third quarter, HoldingsChannel.com reports. The firm owned 20,201 shares of the medical technology company’s stock after purchasing an additional 5,663 shares during the period. ING Groep NV’s holdings in Teleflex were worth $4,996,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cromwell Holdings LLC raised its stake in Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after buying an additional 49 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Teleflex during the 3rd quarter valued at approximately $40,000. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex during the 2nd quarter valued at approximately $42,000. GAMMA Investing LLC lifted its stake in Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Teleflex by 20,700.0% in the second 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. Institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TFX. Mizuho dropped their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Performance

Shares of TFX stock opened at $192.15 on Friday. Teleflex Incorporated has a 12-month low of $189.95 and a 12-month high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The business has a 50 day simple moving average of $231.39 and a 200 day simple moving average of $223.30.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter in the prior year, the business posted $3.64 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.71%. 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.