Teleflex (NYSE:TFX) Reaches New 1-Year Low on Analyst Downgrade

Teleflex Incorporated (NYSE:TFX - Get Free Report) shares reached a new 52-week low during mid-day 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 have also commented on TFX. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Piper Sandler restated a "neutral" rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Wells Fargo & Company reduced their price objective on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. StockNews.com downgraded Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Morgan Stanley cut their price objective on Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Teleflex presently has an average rating of "Hold" and a consensus target price of $164.63.

Institutional Investors Weigh In On Teleflex

Several hedge funds and other institutional investors have recently made changes to their positions in TFX. CANADA LIFE ASSURANCE Co boosted its stake in shares of Teleflex by 0.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,320 shares of the medical technology company's stock valued at $3,614,000 after purchasing an additional 74 shares during the last quarter. Hengehold Capital Management LLC raised its stake in Teleflex by 7.3% during the 4th quarter. Hengehold Capital Management LLC now owns 1,289 shares of the medical technology company's stock worth $229,000 after buying an additional 88 shares during the period. Exchange Traded Concepts LLC increased its stake in Teleflex by 38.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 340 shares of the medical technology company's stock valued at $61,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of Teleflex by 62.3% in the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock worth $48,000 after acquiring an additional 104 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

Teleflex Stock Performance

The firm has a market cap of $5.68 billion, a P/E ratio of 24.33, a PEG ratio of 1.73 and a beta of 1.17. 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's 50-day moving average is $134.16 and its two-hundred day moving average is $168.41.

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

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex's dividend payout ratio (DPR) is 42.90%.

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.