Teleflex (NYSE:TFX) Reaches New 52-Week Low - Here's What Happened

Teleflex Incorporated (NYSE:TFX - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $110.83 and last traded at $111.68, with a volume of 845808 shares changing hands. The stock had previously closed at $113.59.

Wall Street Analyst Weigh In

Several research firms have weighed in on TFX. Mizuho lowered their price objective on Teleflex from $150.00 to $130.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen cut Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Morgan Stanley decreased their target price on Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company decreased their price target on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada set a $130.00 price target on Teleflex and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. 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's stock. According to data from MarketBeat.com, Teleflex presently has a consensus rating of "Hold" and a consensus price target of $159.63.

Teleflex Stock Down 0.2%

The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. The firm has a market cap of $4.90 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The stock has a fifty day simple moving average of $120.71 and a two-hundred day simple moving average of $140.99.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The company had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. During the same quarter in the previous year, the company posted $3.21 EPS. Teleflex's quarterly revenue was down 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.36 annualized dividend and a yield of 1.23%. Teleflex's payout ratio is 42.90%.

Institutional Investors Weigh In On Teleflex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TFX. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Teleflex by 242.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 216 shares of the medical technology company's stock valued at $26,000 after buying an additional 153 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Teleflex during the 1st quarter valued at about $27,000. Costello Asset Management INC purchased a new position in shares of Teleflex during the 1st quarter valued at about $28,000. Finally, Headlands Technologies LLC purchased a new position in shares of Teleflex during the 4th quarter valued at about $29,000. 95.62% of the stock is owned by hedge funds and other 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.

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