Teleflex Incorporated (NYSE:TFX) Sees Large Drop in Short Interest

Teleflex Incorporated (NYSE:TFX) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 493,600 shares, a drop of 26.9% from the November 15th total of 675,000 shares. Based on an average trading volume of 398,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.1% of the company’s shares are short sold.

Institutional Trading of Teleflex

A number of large investors have recently modified their holdings of the company. Cromwell Holdings LLC lifted its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares during the period. Avior Wealth Management LLC lifted its stake in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Teleflex in the third quarter worth approximately $40,000. True Wealth Design LLC increased its stake in shares of Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

TFX has been the topic of several research reports. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Mizuho cut their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada decreased their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial reissued a “hold” rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.00.

Teleflex Stock Down 1.7 %

Shares of TFX traded down $3.17 during midday trading on Friday, hitting $180.14. The company had a trading volume of 300,452 shares, compared to its average volume of 383,055. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex has a 52 week low of $179.82 and a 52 week high of $257.85. The company’s 50 day moving average price is $209.46 and its 200 day moving average price is $220.67. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 1.88 and a beta of 1.16.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.64 earnings per share. On average, equities research analysts predict that Teleflex will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.75%. Teleflex’s payout ratio is currently 27.04%.

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.