Teleflex Incorporated (NYSE:TFX) Short Interest Update

Teleflex Incorporated (NYSE:TFX) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 568,900 shares, a growth of 20.3% from the August 31st total of 473,000 shares. Based on an average daily volume of 399,500 shares, the short-interest ratio is currently 1.4 days.

Teleflex Price Performance

TFX stock traded up $0.49 during trading on Monday, hitting $247.32. 259,433 shares of the stock traded hands, compared to its average volume of 372,556. Teleflex has a one year low of $177.63 and a one year high of $257.85. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 39.62, a P/E/G ratio of 2.23 and a beta of 1.16. The company has a 50 day simple moving average of $237.48 and a 200 day simple moving average of $221.17. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million during the quarter, compared to the consensus estimate of $762.98 million. During the same period in the previous year, the firm posted $3.41 earnings per share. The company’s revenue was up .9% on a year-over-year basis. Equities analysts expect that Teleflex will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio is presently 21.83%.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

A number of institutional investors have recently modified their holdings of TFX. Sanctuary Advisors LLC bought a new stake in shares of Teleflex during the second quarter worth approximately $918,000. Next Capital Management LLC raised its stake in shares of Teleflex by 7.0% during the second quarter. Next Capital Management LLC now owns 10,414 shares of the medical technology company’s stock worth $2,190,000 after buying an additional 685 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Teleflex during the second quarter worth approximately $21,232,000. Quarry LP bought a new stake in shares of Teleflex during the second quarter worth approximately $48,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Teleflex by 19.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock worth $102,000 after buying an additional 80 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TFX shares. Royal Bank of Canada raised their price target on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stephens lifted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial lifted their target price on shares of Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

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.