Teleflex (NYSE:TFX) Reaches New 52-Week Low – What’s Next?

Shares of Teleflex Incorporated (NYSE:TFX) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $195.25 and last traded at $195.25, with a volume of 191714 shares changing hands. The stock had previously closed at $198.03.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TFX. Stephens lifted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Truist Financial reissued a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday. Finally, Royal Bank of Canada lowered their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company’s 50 day moving average price is $236.38 and its 200 day moving average price is $223.78. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $3.64 earnings per share. Research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

Institutional investors have recently bought and sold shares of the business. Cromwell Holdings LLC raised its position in Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Teleflex in the 3rd quarter valued at $40,000. GAMMA Investing LLC raised its position in shares of Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after acquiring an additional 97 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Teleflex during the second quarter valued at $42,000. Finally, Versant Capital Management Inc boosted its holdings in Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

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.