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

Teleflex Incorporated (NYSE:TFX) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $127.18 and last traded at $127.83, with a volume of 29153 shares changing hands. The stock had previously closed at $131.93.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company reduced their price objective on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Morgan Stanley reduced their target price on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Bank of America lowered shares of Teleflex from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Finally, StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $182.63.

Teleflex Stock Down 0.9 %

The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.73 and a beta of 1.19. The business’s 50-day moving average is $151.67 and its 200-day moving average is $184.24. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. On average, equities analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 1.08%. Teleflex’s payout ratio is 95.77%.

Institutional Trading of Teleflex

Several large investors have recently made changes to their positions in TFX. Norges Bank acquired a new position in Teleflex during the 4th quarter worth about $100,328,000. Invesco Ltd. lifted its position in shares of Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock worth $190,188,000 after purchasing an additional 347,003 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Teleflex during the fourth quarter valued at approximately $46,696,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Teleflex by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock valued at $1,098,693,000 after purchasing an additional 261,279 shares in the last quarter. Finally, Magnetar Financial LLC raised its position in Teleflex by 105.2% in the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock worth $74,990,000 after purchasing an additional 215,961 shares during the last quarter. Institutional investors 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.