KBC Group NV Cuts Stake in Teleflex Incorporated (NYSE:TFX)

KBC Group NV lessened its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 63.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,670 shares of the medical technology company's stock after selling 2,907 shares during the period. KBC Group NV's holdings in Teleflex were worth $231,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. RBA Wealth Management LLC bought a new position in shares of Teleflex during the first quarter valued at about $2,956,000. Intact Investment Management Inc. purchased a new position in shares of Teleflex in the 1st quarter worth about $69,000. Praxis Investment Management Inc. purchased a new stake in Teleflex during the first quarter worth about $345,000. State of Alaska Department of Revenue increased its holdings in Teleflex by 386.0% during the first quarter. State of Alaska Department of Revenue now owns 25,734 shares of the medical technology company's stock worth $3,556,000 after buying an additional 20,439 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Teleflex by 35.9% in the first quarter. QRG Capital Management Inc. now owns 2,959 shares of the medical technology company's stock worth $409,000 after acquiring an additional 781 shares during the period. Institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

NYSE TFX traded down $3.14 on Monday, hitting $116.76. The stock had a trading volume of 457,986 shares, compared to its average volume of 631,678. The firm has a 50-day moving average of $123.14 and a 200-day moving average of $145.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28. Teleflex Incorporated has a 52-week low of $115.94 and a 52-week high of $249.91. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The company had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. During the same quarter last year, the business posted $3.21 earnings per share. The firm's revenue was down 5.0% compared to the same quarter last year. Equities analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a $0.34 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $1.36 annualized dividend and a yield of 1.16%. Teleflex's dividend payout ratio (DPR) is presently 42.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TFX shares. Morgan Stanley lowered their price target on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Mizuho set a $155.00 price target on Teleflex in a research report on Wednesday, April 16th. Truist Financial decreased their price objective on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.