Teleflex (NYSE:TFX) Reaches New 52-Week Low – Here’s Why

Shares of Teleflex Incorporated (NYSE:TFX) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $195.25 and last traded at $195.25, with a volume of 191714 shares. The stock had previously closed at $198.03.

Analysts Set New Price Targets

Several research firms have recently commented on TFX. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Stephens lifted 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. Royal Bank of Canada decreased 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 reiterated a “hold” rating and issued a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Finally, Mizuho decreased 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Performance

The company has a 50-day simple moving average of $235.39 and a two-hundred day simple moving average of $223.70. 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 firm has a market capitalization of $9.08 billion, a P/E ratio of 38.88, a PEG ratio of 2.07 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating the consensus estimate 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 business’s 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, equities analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.70%. Teleflex’s payout ratio is 27.04%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Trading of Teleflex

A number of hedge funds have recently made changes to their positions in TFX. Cromwell Holdings LLC lifted its position in Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 49 shares in the last quarter. Avior Wealth Management LLC lifted its position in Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Teleflex in the 3rd quarter valued at approximately $40,000. Canada Pension Plan Investment Board bought a new position in Teleflex in the 2nd quarter valued at approximately $42,000. Finally, GAMMA Investing LLC lifted its position in Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after acquiring an additional 97 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

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.