Teleflex Incorporated (NYSE:TFX) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Teleflex

In related 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 completion of the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

Large investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in shares of Teleflex during the first quarter valued at about $31,000. Pineridge Advisors LLC purchased a new stake in Teleflex during the fourth quarter valued at approximately $35,000. Canada Pension Plan Investment Board acquired a new stake in Teleflex in the second quarter valued at approximately $42,000. GAMMA Investing LLC increased its position in shares of Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Trading Up 0.6 %

Shares of TFX opened at $237.34 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. The firm has a market capitalization 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 50-day moving average of $240.26 and a 200 day moving average of $222.62. Teleflex has a 1-year low of $177.63 and a 1-year high of $257.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million during 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 revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.41 earnings per share. On average, research analysts expect that Teleflex will post 13.97 EPS for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.57%. Teleflex’s dividend payout ratio is presently 24.42%.

About Teleflex

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.