Teleflex (NYSE:TFX) Hits New 1-Year Low – What’s Next?

Teleflex Incorporated (NYSE:TFX) shares 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 traded. The stock had previously closed at $193.98.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TFX. Truist Financial reiterated a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Royal Bank of Canada decreased their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Mizuho dropped their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Performance

The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 2.00 and a beta of 1.18. 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 firm has a fifty day simple moving average of $232.44 and a two-hundred day simple moving average of $223.53.

Teleflex (NYSE:TFX) last released 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 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 firm earned $3.64 EPS. Teleflex’s revenue was up 2.4% compared to the same quarter last year. On average, analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid 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 presently 27.04%.

Insider Buying and Selling

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now owns 5,496 shares in the company, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in Teleflex by 34.1% during the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock valued at $2,759,000 after purchasing an additional 3,105 shares in the last quarter. Tidal Investments LLC lifted its position in Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after buying an additional 4,533 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Teleflex by 2.7% during the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after buying an additional 6,076 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Teleflex by 15.8% in the 1st quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after buying an additional 2,570 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Teleflex during the first quarter worth about $537,000. Hedge funds and other 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.