Teleflex Incorporated (NYSE:TFX) Sees Significant Increase in Short Interest

Teleflex Incorporated (NYSE:TFXGet Rating) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 851,100 shares, a growth of 24.8% from the April 30th total of 681,800 shares. Based on an average daily trading volume, of 372,300 shares, the short-interest ratio is presently 2.3 days.

Shares of TFX traded down $5.80 on Wednesday, hitting $281.94. 3,195 shares of the stock traded hands, compared to its average volume of 400,705. The company has a market capitalization of $13.22 billion, a PE ratio of 27.96, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.53 and a current ratio of 2.28. The business has a 50 day simple moving average of $311.28 and a 200 day simple moving average of $320.21. Teleflex has a one year low of $256.77 and a one year high of $428.36.

Teleflex (NYSE:TFXGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical technology company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.15. Teleflex had a net margin of 17.31% and a return on equity of 17.24%. The company had revenue of $641.70 million during the quarter, compared to the consensus estimate of $631.89 million. During the same quarter last year, the firm earned $2.87 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Teleflex will post 13.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Friday, May 13th. Teleflex’s dividend payout ratio (DPR) is presently 13.22%.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Teleflex from a “hold” rating to a “sell” rating and set a $373.00 price objective for the company. in a report on Friday, April 1st. Royal Bank of Canada lowered their target price on shares of Teleflex from $390.00 to $380.00 in a report on Monday, May 23rd. Bank of America initiated coverage on shares of Teleflex in a report on Monday, May 9th. They set a “neutral” rating and a $315.00 target price for the company. Morgan Stanley lowered their target price on shares of Teleflex from $383.00 to $378.00 and set an “equal weight” rating for the company in a report on Friday, February 25th. Finally, Piper Sandler lifted their target price on shares of Teleflex from $320.00 to $335.00 in a report on Thursday, February 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $384.00.

A number of large investors have recently bought and sold shares of the business. HighTower Advisors LLC grew its position in Teleflex by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 4,652 shares of the medical technology company’s stock worth $1,759,000 after purchasing an additional 36 shares during the period. Veritable L.P. grew its position in Teleflex by 4.9% in the 3rd quarter. Veritable L.P. now owns 793 shares of the medical technology company’s stock worth $299,000 after purchasing an additional 37 shares during the period. Ieq Capital LLC grew its position in Teleflex by 0.7% in the 1st quarter. Ieq Capital LLC now owns 6,088 shares of the medical technology company’s stock worth $2,160,000 after purchasing an additional 42 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in Teleflex by 62.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 114 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 44 shares during the period. Finally, CIBC Asset Management Inc grew its position in Teleflex by 1.0% in the 1st quarter. CIBC Asset Management Inc now owns 4,471 shares of the medical technology company’s stock worth $1,586,000 after purchasing an additional 45 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Teleflex Company Profile (Get Rating)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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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