Teleflex (NYSE:TFX) Hits New 12-Month Low – Here’s What Happened

Teleflex Incorporated (NYSE:TFX)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $189.76 and last traded at $189.98, with a volume of 34995 shares changing hands. The stock had previously closed at $193.07.

Analysts Set New Price Targets

Several brokerages have weighed in on TFX. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada cut their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Finally, Mizuho dropped their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Up 1.7 %

The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 1.98 and a beta of 1.18. The stock has a fifty day moving average of $226.07 and a 200-day moving average of $222.79.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $3.64 EPS. As a group, sell-side 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 will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its stake in Teleflex by 12.0% in the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. State Street Corp raised its holdings in shares of Teleflex by 1.0% in the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after buying an additional 21,291 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Teleflex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock worth $278,676,000 after buying an additional 5,746 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after buying an additional 172,335 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after purchasing an additional 48,832 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.