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

Teleflex Incorporated (NYSE:TFX)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $192.45 and last traded at $192.45, with a volume of 4873 shares trading hands. The stock had previously closed at $193.98.

Analysts Set New Price Targets

A number of research analysts have recently commented on TFX shares. Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Performance

The stock has a fifty day moving average price of $232.44 and a 200-day moving average price of $223.53. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18.

Teleflex (NYSE:TFX) last issued its earnings results 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 the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.64 earnings per share. On average, analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm 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 $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Teleflex

Hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp grew its stake in Teleflex by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 9,714 shares of the medical technology company’s stock valued at $2,197,000 after acquiring an additional 152 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Teleflex by 10.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,648 shares of the medical technology company’s stock worth $373,000 after purchasing an additional 159 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Teleflex during the 1st quarter worth approximately $537,000. SG Americas Securities LLC increased its position in Teleflex by 415.3% during the first quarter. SG Americas Securities LLC now owns 6,920 shares of the medical technology company’s stock worth $1,565,000 after buying an additional 5,577 shares in the last quarter. Finally, Sei Investments Co. increased its position in Teleflex by 22.0% during the 1st quarter. Sei Investments Co. now owns 23,012 shares of the medical technology company’s stock worth $5,205,000 after purchasing an additional 4,156 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

About Teleflex

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.