Teleflex (NYSE:TFX) Hits New 1-Year Low – Here’s Why

Teleflex Incorporated (NYSE:TFX)’s share price reached a new 52-week low on Monday . The company traded as low as $179.26 and last traded at $180.30, with a volume of 10980 shares changing hands. The stock had previously closed at $180.14.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TFX shares. Truist Financial reiterated a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Royal Bank of Canada decreased their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Mizuho dropped their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Teleflex Price Performance

The firm has a market capitalization of $8.28 billion, a PE ratio of 35.44, a PEG ratio of 1.84 and a beta of 1.16. The firm’s fifty day simple moving average is $206.03 and its 200-day simple moving average is $220.31. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 EPS 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 quarter last year, the company earned $3.64 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Simplify Asset Management Inc. purchased a new position in shares of Teleflex in the third quarter worth $4,800,000. Dimensional Fund Advisors LP raised its stake in shares of Teleflex by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock valued at $83,741,000 after buying an additional 15,992 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Teleflex by 19.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock worth $102,000 after buying an additional 80 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Teleflex by 41.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company’s stock valued at $6,010,000 after acquiring an additional 7,132 shares in the last quarter. Finally, LGT Capital Partners LTD. lifted its holdings in Teleflex by 4.2% in the third quarter. LGT Capital Partners LTD. now owns 231,685 shares of the medical technology company’s stock valued at $57,300,000 after acquiring an additional 9,411 shares during the period. 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.