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

Teleflex Incorporated (NYSE:TFX) shares reached a new 52-week low 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.

Other research analysts also recently issued reports about the company. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Piper Sandler restated a “neutral” rating and set a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Royal Bank of Canada reduced their price target on shares of Teleflex from $150.00 to $145.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Finally, Bank of America cut Teleflex from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $164.63.

Hedge Funds Weigh In On Teleflex

A number of institutional investors and hedge funds have recently modified their holdings of TFX. Neo Ivy Capital Management purchased a new stake in Teleflex during the 1st quarter valued at $2,304,000. Cetera Investment Advisers purchased a new stake in shares of Teleflex in the first quarter valued at $206,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of Teleflex by 122.8% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company’s stock worth $80,784,000 after acquiring an additional 322,222 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Teleflex by 1,643.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 43,503 shares of the medical technology company’s stock worth $6,012,000 after purchasing an additional 41,008 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Teleflex by 437.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 18,883 shares of the medical technology company’s stock valued at $2,609,000 after purchasing an additional 15,372 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $5.61 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. The stock’s 50-day moving average is $134.36 and its two-hundred day moving average is $168.73.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. During the same period in the prior year, the business posted $3.21 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, equities analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio is currently 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.