Bessemer Group Inc. Sells 18,147 Shares of Teleflex Incorporated (NYSE:TFX)

Bessemer Group Inc. cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 76.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,511 shares of the medical technology company’s stock after selling 18,147 shares during the quarter. Bessemer Group Inc.’s holdings in Teleflex were worth $761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in Teleflex by 103.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Headlands Technologies LLC bought a new stake in Teleflex during the 4th quarter worth about $29,000. Whipplewood Advisors LLC lifted its position in Teleflex by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company’s stock worth $32,000 after buying an additional 231 shares in the last quarter. True Wealth Design LLC lifted its position in Teleflex by 62.3% during the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock worth $48,000 after buying an additional 104 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in Teleflex by 238.5% during the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock worth $55,000 after buying an additional 217 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Teleflex from $146.00 to $137.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Mizuho set a $155.00 target price on shares of Teleflex in a report on Wednesday, April 16th. Morgan Stanley dropped their target price 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. Truist Financial dropped their target price on shares of Teleflex from $140.00 to $137.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, Royal Bank Of Canada dropped their target price on shares of Teleflex from $150.00 to $145.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $164.63.

Teleflex Stock Down 1.1%

Teleflex stock opened at $118.21 on Tuesday. The stock has a market cap of $5.22 billion, a P/E ratio of 37.29, a P/E/G ratio of 1.87 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. Teleflex Incorporated has a twelve month low of $115.94 and a twelve month high of $249.91. The company’s 50-day moving average price is $124.19 and its two-hundred day moving average price is $146.90.

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

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.15%. Teleflex’s payout ratio is presently 42.90%.

Teleflex Company Profile

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.