Teleflex (NYSE:TFX) Hits New 52-Week Low Following Analyst Downgrade

Teleflex Incorporated (NYSE:TFX)’s stock price hit a new 52-week low during trading on Monday after Truist Financial lowered their price target on the stock from $140.00 to $137.00. Truist Financial currently has a hold rating on the stock. Teleflex traded as low as $124.03 and last traded at $125.49, with a volume of 29239 shares traded. The stock had previously closed at $126.41.

Several other research analysts also recently commented on the company. Wells Fargo & Company reduced their price objective on Teleflex from $146.00 to $137.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Bank of America lowered Teleflex from a “neutral” rating to an “underperform” rating and cut their price target for the company from $235.00 to $140.00 in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, Mizuho set a $155.00 price target on shares of Teleflex in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $164.63.

Institutional Trading of Teleflex

Institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its stake in Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Teleflex during the 4th quarter valued at $29,000. Whipplewood Advisors LLC boosted its position in shares of Teleflex by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 231 shares in the last quarter. Allworth Financial LP grew its stake in Teleflex by 504.8% during the 1st quarter. Allworth Financial LP now owns 254 shares of the medical technology company’s stock worth $34,000 after buying an additional 212 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Teleflex by 62.3% during the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock valued at $48,000 after buying an additional 104 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Teleflex Stock Performance

The company has a market capitalization of $5.61 billion, a PE ratio of 24.03, a PEG ratio of 1.73 and a beta of 1.17. 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 business has a 50 day simple moving average of $134.36 and a 200 day simple moving average of $168.73.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $700.67 million during the quarter, compared to analysts’ expectations of $699.37 million. During the same period last year, the business earned $3.21 EPS. Teleflex’s revenue for the quarter was down 5.0% on a year-over-year basis. Equities research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, March 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s payout ratio is 42.90%.

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.