Teleflex Incorporated (NYSE:TFX) Short Interest Update

Teleflex Incorporated (NYSE:TFX) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 754,900 shares, an increase of 32.7% from the September 15th total of 568,900 shares. Based on an average trading volume of 371,900 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TFX shares. Truist Financial boosted their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday. Royal Bank of Canada upped their price target on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens lifted their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and an average price target of $268.86.

Insider Buying and Selling at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Teleflex

A number of hedge funds have recently made changes to their positions in TFX. Janus Henderson Group PLC lifted its holdings in shares of Teleflex by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after acquiring an additional 581,312 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Teleflex by 564.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after acquiring an additional 263,743 shares during the period. Cooke & Bieler LP raised its holdings in Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Teleflex during the 2nd quarter worth approximately $25,550,000. Finally, National Bank of Canada FI increased its position in shares of Teleflex by 1,008.2% during the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock worth $24,388,000 after purchasing an additional 104,935 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Trading Up 0.6 %

Shares of TFX stock opened at $237.34 on Tuesday. Teleflex has a 1 year low of $177.63 and a 1 year high of $257.85. The firm has a fifty day moving average price of $240.26 and a 200-day moving average price of $222.62. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 earnings per share. As a group, equities analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. Teleflex’s dividend payout ratio (DPR) is 24.42%.

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.