Teleflex (NYSE:TFX) Sets New 52-Week Low – Time to Sell?

Teleflex Incorporated (NYSE:TFX) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $165.62 and last traded at $169.33, with a volume of 537805 shares. The stock had previously closed at $167.43.

Analyst Ratings Changes

A number of brokerages have recently commented on TFX. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Royal Bank of Canada lowered their price target 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 price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Truist Financial lowered their price target on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.50.

Teleflex Stock Performance

The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.13 billion, a PE ratio of 34.82, a P/E/G ratio of 1.73 and a beta of 1.16. The firm has a 50-day moving average price of $177.07 and a two-hundred day moving average price of $207.80.

Institutional Investors Weigh In On Teleflex

Several hedge funds and other institutional investors have recently made changes to their positions in TFX. Exchange Traded Concepts LLC acquired a new stake in shares of Teleflex in the third quarter valued at approximately $61,000. Creative Planning increased its stake in Teleflex by 7.8% during the third quarter. Creative Planning now owns 5,671 shares of the medical technology company’s stock worth $1,403,000 after acquiring an additional 412 shares during the last quarter. Blue Trust Inc. increased its stake in Teleflex by 47.2% during the third quarter. Blue Trust Inc. now owns 312 shares of the medical technology company’s stock worth $77,000 after acquiring an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Teleflex by 41.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company’s stock worth $6,010,000 after acquiring an additional 7,132 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Teleflex by 2.4% during the third quarter. Sequoia Financial Advisors LLC now owns 6,637 shares of the medical technology company’s stock worth $1,641,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds 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.