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

Teleflex Incorporated (NYSE:TFX) shares hit a new 52-week low during trading on Wednesday . The stock 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 Ratings Changes

TFX has been the topic of several recent research reports. Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Truist Financial reiterated a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Royal Bank of Canada dropped their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday. Four research 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 an average target price of $259.25.

Teleflex Stock Down 3.2 %

The business’s fifty day moving average is $228.26 and its two-hundred day moving average is $223.27. The company has a market cap of $8.68 billion, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $768.68 million. During the same period in the previous year, the business earned $3.64 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in shares of Teleflex by 1.4% during the third quarter. Toronto Dominion Bank now owns 23,566 shares of the medical technology company’s stock worth $5,828,000 after buying an additional 321 shares during the period. Geode Capital Management LLC increased its stake in 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 valued at $278,676,000 after purchasing an additional 5,746 shares in the last quarter. Barclays PLC boosted its position in shares of Teleflex by 1.6% in the 3rd quarter. Barclays PLC now owns 89,907 shares of the medical technology company’s stock worth $22,233,000 after buying an additional 1,426 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Teleflex by 43.0% in the third quarter. Public Employees Retirement System of Ohio now owns 25,677 shares of the medical technology company’s stock valued at $6,350,000 after purchasing an additional 7,721 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Teleflex by 12.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 14,015 shares of the medical technology company’s stock worth $3,466,000 after acquiring an additional 1,533 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.