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

Teleflex Incorporated (NYSE:TFX)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $116.60 and last traded at $117.80, with a volume of 1263650 shares changing hands. The stock had previously closed at $117.72.

Analysts Set New Price Targets

TFX has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Piper Sandler restated a “neutral” rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Wall Street Zen upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial lowered their price target on shares of Teleflex from $140.00 to $137.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, Mizuho set a $155.00 price objective on shares of Teleflex in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Teleflex currently has an average rating of “Hold” and an average target price of $164.63.

Teleflex Trading Up 1.8%

The firm’s 50-day simple moving average is $124.99 and its 200 day simple moving average is $148.96. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.28 and a quick ratio of 1.32.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. The firm had revenue of $700.67 million for the quarter, compared to analysts’ expectations of $699.37 million. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.21 earnings per share. Equities analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex’s dividend payout ratio is 42.90%.

Institutional Trading of Teleflex

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its holdings in shares of Teleflex by 28.2% during the 4th quarter. Sanctuary Advisors LLC now owns 6,251 shares of the medical technology company’s stock valued at $1,143,000 after acquiring an additional 1,374 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Teleflex by 43.0% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,644 shares of the medical technology company’s stock worth $2,072,000 after purchasing an additional 3,500 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Teleflex by 238.5% in the fourth quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after buying an additional 217 shares during the period. Bryn Mawr Capital Management LLC bought a new position in Teleflex in the 4th quarter valued at approximately $213,000. Finally, Proficio Capital Partners LLC acquired a new stake in Teleflex during the 4th quarter worth approximately $3,297,000. 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.