ING Groep NV Grows Stock Position in Teleflex Incorporated (NYSE:TFX)

ING Groep NV raised its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 39.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. grew its position in Teleflex by 4.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company's stock worth $375,000 after acquiring an additional 66 shares in the last quarter. Huntington National Bank raised its stake in Teleflex by 32.5% in the third quarter. Huntington National Bank now owns 310 shares of the medical technology company's stock worth $77,000 after buying an additional 76 shares in the last quarter. KBC Group NV boosted its position in Teleflex by 13.2% during the third quarter. KBC Group NV now owns 4,577 shares of the medical technology company's stock valued at $1,132,000 after purchasing an additional 535 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Teleflex by 364.6% in the 3rd quarter. Victory Capital Management Inc. now owns 35,370 shares of the medical technology company's stock worth $8,748,000 after buying an additional 27,757 shares during the last quarter. Finally, Aigen Investment Management LP grew its holdings in Teleflex by 33.2% in the third quarter. Aigen Investment Management LP now owns 2,883 shares of the medical technology company's stock worth $713,000 after purchasing an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Trading Up 0.9 %

Shares of TFX stock traded up $1.71 during trading hours on Friday, hitting $192.15. The company had a trading volume of 515,661 shares, compared to its average volume of 378,038. Teleflex Incorporated has a fifty-two week low of $189.95 and a fifty-two week 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 company's fifty day moving average is $230.35 and its 200 day moving average is $223.19. The stock has a market capitalization of $8.92 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly 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 business had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $3.64 earnings per share. Research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.71%. Teleflex's dividend payout ratio is presently 27.04%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TFX. Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Stephens raised their target price on Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Royal Bank of Canada dropped their price objective on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $259.25.

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.