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

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TFX. Stephens raised their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada cut their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Up 1.7 %

The business has a 50 day simple moving average of $226.07 and a two-hundred day simple moving average of $222.79. 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 stock has a market cap of $8.85 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 1.98 and a beta of 1.18.

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

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.34 dividend. 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 payout ratio is 27.04%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in shares of Teleflex by 1.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after acquiring an additional 46 shares in the last quarter. Cromwell Holdings LLC grew its position 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 acquiring an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Teleflex by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after acquiring an additional 53 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of Teleflex by 3.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after acquiring an additional 55 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in shares of Teleflex by 0.3% in the 3rd quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after acquiring an additional 60 shares in 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.