Teleflex (NYSE:TFX) Reaches New 12-Month Low – Here’s What Happened

Shares of Teleflex Incorporated (NYSE:TFX) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $143.43 and last traded at $139.43, with a volume of 395454 shares. The stock had previously closed at $177.63.

Analyst Ratings Changes

A number of research firms have issued reports on TFX. Wells Fargo & Company cut their target price on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $220.00 to $155.00 in a research report on Friday. Raymond James downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Friday. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Teleflex currently has a consensus rating of “Hold” and an average price target of $196.83.

Teleflex Trading Down 4.7 %

The company’s 50 day moving average price is $175.44 and its 200 day moving average price is $205.04. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. 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 posted its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. Research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, March 7th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. Teleflex’s payout ratio is presently 27.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. grew its stake in Teleflex by 21.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock valued at $248,000 after buying an additional 250 shares during the last quarter. Simplify Asset Management Inc. acquired a new stake in Teleflex in the 3rd quarter worth $4,800,000. JPMorgan Chase & Co. grew its position in Teleflex by 14.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock worth $38,374,000 after purchasing an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Teleflex by 5.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock worth $19,263,000 after purchasing an additional 5,322 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Teleflex in the 4th quarter worth $729,000. 95.62% of the stock is currently 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.