Teleflex (NYSE:TFX) Sets New 12-Month Low - Here's What Happened

Teleflex Incorporated (NYSE:TFX - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $167.78 and last traded at $168.28, with a volume of 488076 shares traded. The stock had previously closed at $171.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TFX shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a report on Monday, December 16th. StockNews.com raised shares of Teleflex from a "hold" rating to a "buy" rating in a report on Thursday, November 28th. Truist Financial decreased their price objective on shares of Teleflex from $227.00 to $200.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $252.50.

Teleflex Trading Down 0.1 %

The company has a fifty day simple moving average of $178.15 and a 200-day simple moving average of $209.31. 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 stock has a market cap of $7.78 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.72 and a beta of 1.16.

Institutional Trading of Teleflex

Several institutional investors and hedge funds have recently bought and sold shares of TFX. Cromwell Holdings LLC grew its stake in Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 49 shares in the last quarter. Avior Wealth Management LLC grew its stake in Teleflex by 190.6% during the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company's stock valued at $38,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Teleflex during the 3rd quarter valued at about $40,000. Headlands Technologies LLC purchased a new position in Teleflex during the 4th quarter valued at about $29,000. Finally, True Wealth Design LLC grew its stake in Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company's stock valued at $41,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

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.