Teleflex (NYSE:TFX) Sets New 52-Week Low - Here's Why

Teleflex Incorporated (NYSE:TFX - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $165.62 and last traded at $169.33, with a volume of 537805 shares changing hands. The stock had previously closed at $167.43.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TFX. Royal Bank of Canada lowered their target price on Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Mizuho lowered their target price on Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Truist Financial lowered their target price on Teleflex from $227.00 to $200.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.50.

Teleflex Stock Up 0.2 %

The company has a 50-day moving average price of $177.07 and a 200 day moving average price of $207.80. The firm has a market capitalization of $8.15 billion, a PE ratio of 34.88, a P/E/G ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Institutional Investors Weigh In On Teleflex

Large investors have recently made changes to their positions in the company. Simplify Asset Management Inc. bought a new stake in shares of Teleflex in the third quarter worth about $4,800,000. JPMorgan Chase & Co. increased its holdings in shares of Teleflex by 14.3% in the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company's stock worth $38,374,000 after purchasing an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Teleflex by 5.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock worth $19,263,000 after purchasing an additional 5,322 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Teleflex in the fourth quarter worth about $729,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Teleflex by 35.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock worth $1,053,000 after purchasing an additional 1,527 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

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.