Teleflex (NYSE:TFX) Sets New 12-Month Low – Here’s Why

Shares of Teleflex Incorporated (NYSE:TFX) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $185.27 and last traded at $188.76, with a volume of 120654 shares. The stock had previously closed at $194.31.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TFX. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Royal Bank of Canada decreased their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial reiterated a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Finally, Mizuho decreased their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Teleflex presently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Teleflex Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company’s 50 day moving average price is $216.58 and its 200 day moving average price is $221.81. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 1.93 and a beta of 1.16.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 0.73%. Teleflex’s dividend payout ratio (DPR) is 27.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in Teleflex by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after buying an additional 147,147 shares in the last quarter. State Street Corp raised its holdings in Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after purchasing an additional 21,291 shares during the last quarter. Geode Capital Management LLC raised its holdings in Teleflex by 0.5% during 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 purchasing an additional 5,746 shares during the last quarter. Cooke & Bieler LP raised its holdings in Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the last quarter. Finally, TD Asset Management Inc raised 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 worth $95,928,000 after purchasing an additional 48,832 shares during the last quarter. Institutional investors and hedge funds 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.