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

Teleflex Incorporated (NYSE:TFX)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $192.45 and last traded at $192.45, with a volume of 4873 shares changing hands. The stock had previously closed at $193.98.

Analysts Set New Price Targets

Several equities research analysts have commented on TFX shares. Royal Bank of Canada dropped their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Truist Financial restated a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Stephens lifted their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Up 0.9 %

The company has a 50 day moving average of $231.39 and a 200-day moving average of $223.30. 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 has a market cap of $8.92 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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

A number of institutional investors have recently added to or reduced their stakes in TFX. Cromwell Holdings LLC boosted its holdings in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after buying an additional 101 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Teleflex in the third quarter worth approximately $40,000. True Wealth Design LLC grew its position in Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 166 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Teleflex during the second quarter worth approximately $42,000. 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.