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

14 Oct 2024, 02:34 by Danessa Lincoln · The Markets Daily

Teleflex Incorporated (NYSE:TFX – Get Free Report) was the target of a large increase in short interest in the month of 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 daily volume of 371,900 shares, the days-to-cover ratio is presently 2.0 days.

Teleflex Price Performance

TFX stock traded up $1.41 during mid-day trading on Friday, reaching $236.03. 213,855 shares of the company traded hands, compared to its average volume of 307,639. 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 company has a market capitalization of $11.12 billion, a P/E ratio of 42.38, a P/E/G ratio of 2.13 and a beta of 1.16. Teleflex has a 52-week low of $177.63 and a 52-week high of $257.85. The company has a fifty day moving average price of $240.18 and a 200-day moving average price of $222.55.

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

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 15th. Teleflex’s payout ratio is 24.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on TFX. Stephens lifted their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada lifted their target price on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and a consensus target price of $267.71.

Get Our Latest Stock Analysis on Teleflex

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex 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 sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co purchased a new position in shares of Teleflex during the first quarter worth about $31,000. Pineridge Advisors LLC bought a new stake in Teleflex in the 4th quarter worth approximately $35,000. GAMMA Investing LLC lifted its position in Teleflex by 131.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 97 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Teleflex in the second quarter valued at approximately $42,000. Finally, Versant Capital Management Inc lifted its position in Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

About Teleflex

(Get Free Report)

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.