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

Teleflex Incorporated (NYSE:TFX - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,420,000 shares, an increase of 116.1% from the February 28th total of 1,120,000 shares. Based on an average daily trading volume, of 998,200 shares, the days-to-cover ratio is currently 2.4 days. Currently, 5.2% of the shares of the stock are sold short.

Teleflex Stock Performance

NYSE:TFX traded up $1.73 during mid-day trading on Tuesday, hitting $139.92. The company's stock had a trading volume of 334,103 shares, compared to its average volume of 1,054,714. The business's fifty day moving average is $158.33 and its two-hundred day moving average is $189.25. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.73 and a beta of 1.21. Teleflex has a 1 year low of $128.55 and a 1 year high of $249.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX - Get Free Report) last posted its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. Analysts anticipate that Teleflex will post 13.98 EPS for the current fiscal year.

Remove Ads

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were issued a $0.34 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. Teleflex's payout ratio is 95.77%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cerity Partners LLC raised its holdings in Teleflex by 49.3% in the 3rd quarter. Cerity Partners LLC now owns 13,374 shares of the medical technology company's stock worth $3,308,000 after purchasing an additional 4,415 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Teleflex by 10.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,295 shares of the medical technology company's stock worth $2,793,000 after buying an additional 1,106 shares during the period. FMR LLC grew its stake in Teleflex by 70.1% in the 3rd quarter. FMR LLC now owns 269,490 shares of the medical technology company's stock valued at $66,650,000 after acquiring an additional 111,086 shares during the period. BNP Paribas Financial Markets increased its holdings in Teleflex by 14.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 64,498 shares of the medical technology company's stock worth $15,952,000 after acquiring an additional 7,907 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in Teleflex in the 3rd quarter worth $200,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFX. StockNews.com lowered Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wells Fargo & Company dropped their price objective on Teleflex from $214.00 to $146.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Truist Financial reduced their price objective on Teleflex from $200.00 to $149.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. Piper Sandler restated a "neutral" rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $182.63.

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.