Teleflex Incorporated (NYSE:TFX) Short Interest Up 36.1% in July

Teleflex Incorporated (NYSE:TFXGet Rating) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,470,000 shares, an increase of 36.1% from the June 30th total of 1,080,000 shares. Based on an average daily volume of 385,200 shares, the days-to-cover ratio is currently 3.8 days.

Teleflex Price Performance

Shares of NYSE TFX opened at $240.46 on Monday. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.76 and a beta of 1.17. The business has a 50-day moving average of $261.94 and a 200-day moving average of $300.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.28 and a quick ratio of 1.53. Teleflex has a fifty-two week low of $235.01 and a fifty-two week high of $405.89.

Teleflex (NYSE:TFXGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The medical technology company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.05. Teleflex had a return on equity of 17.24% and a net margin of 17.31%. The company had revenue of $704.50 million during the quarter, compared to analysts’ expectations of $719.50 million. During the same quarter last year, the company earned $3.35 EPS. Teleflex’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that Teleflex will post 13.94 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.36 annualized dividend and a yield of 0.57%. Teleflex’s dividend payout ratio (DPR) is currently 13.22%.

Insider Activity

In other news, Director Stuart A. Randle sold 3,014 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $283.31, for a total value of $853,896.34. Following the transaction, the director now owns 4,320 shares of the company’s stock, valued at approximately $1,223,899.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Teleflex

Hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its stake in Teleflex by 141.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 104 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Teleflex by 62.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 114 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 44 shares during the last quarter. Aquire Wealth Advisors LLC acquired a new stake in Teleflex during the fourth quarter worth approximately $38,000. Quent Capital LLC acquired a new stake in Teleflex during the fourth quarter worth approximately $48,000. Finally, City State Bank acquired a new stake in Teleflex during the fourth quarter worth approximately $27,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on TFX. Royal Bank of Canada lowered their price objective on shares of Teleflex from $390.00 to $380.00 in a research report on Monday, May 23rd. Truist Financial lowered their price objective on shares of Teleflex to $270.00 in a research report on Friday, July 22nd. Morgan Stanley lowered their price objective on shares of Teleflex from $300.00 to $278.00 and set an “equal weight” rating for the company in a research report on Friday. Piper Sandler lowered their target price on Teleflex from $295.00 to $265.00 in a report on Thursday. Finally, Wells Fargo & Company cut Teleflex from an “overweight” rating to an “equal weight” rating and set a $248.00 target price for the company. in a report on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Teleflex presently has a consensus rating of “Moderate Buy” and an average target price of $343.33.

Teleflex Company Profile

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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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