Teleflex (NYSE:TFX) Shares Gap Down – Time to Sell?

Teleflex Incorporated (NYSE:TFX) gapped down before the market opened on Thursday . The stock had previously closed at $235.22, but opened at $205.58. Teleflex shares last traded at $207.24, with a volume of 109,680 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday. Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Mizuho reduced their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada dropped their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday. Finally, Truist Financial raised their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teleflex presently has a consensus rating of “Moderate Buy” and an average price target of $262.75.

Teleflex Stock Performance

The stock has a market capitalization of $9.95 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18. The firm’s fifty day moving average is $239.55 and its 200-day moving average is $223.93. The company has a current ratio of 2.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter last year, the company posted $3.64 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.64%. Teleflex’s payout ratio is presently 27.04%.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TFX. Janus Henderson Group PLC lifted its holdings in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after buying an additional 581,312 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Teleflex by 564.3% in the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after acquiring an additional 263,743 shares in the last quarter. Cooke & Bieler LP boosted its holdings in Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the period. Ceredex Value Advisors LLC acquired a new position in Teleflex during the 2nd quarter worth $25,550,000. Finally, National Bank of Canada FI increased its holdings in Teleflex by 1,008.2% during the 2nd quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock worth $24,388,000 after purchasing an additional 104,935 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.