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

Teleflex Incorporated (NYSE:TFXGet Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 851,100 shares, a growth of 24.8% from the April 30th total of 681,800 shares. Based on an average daily volume of 372,300 shares, the short-interest ratio is presently 2.3 days.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its stake in shares of Teleflex by 144.4% in the fourth quarter. Allworth Financial LP now owns 110 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 65 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Teleflex by 62.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 114 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 44 shares during the period. Aquire Wealth Advisors LLC acquired a new stake in shares of Teleflex in the fourth quarter worth $38,000. Spire Wealth Management increased its stake in shares of Teleflex by 3,900.0% in the fourth quarter. Spire Wealth Management now owns 120 shares of the medical technology company’s stock worth $40,000 after acquiring an additional 117 shares during the period. Finally, Ten Capital Wealth Advisors LLC acquired a new stake in shares of Teleflex in the fourth quarter worth $43,000. 92.21% of the stock is owned by institutional investors and hedge funds.

TFX has been the subject of several research reports. Zacks Investment Research cut shares of Teleflex from a “hold” rating to a “sell” rating and set a $373.00 price target for the company. in a research report on Friday, April 1st. Raymond James lowered their price target on shares of Teleflex from $391.00 to $370.00 and set an “outperform” rating for the company in a research report on Wednesday, February 23rd. Piper Sandler upped their price target on shares of Teleflex from $320.00 to $335.00 in a research report on Thursday, February 24th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Truist Financial decreased their target price on shares of Teleflex from $340.00 to $317.00 and set a “hold” rating for the company in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $384.00.

Shares of NYSE TFX traded down $5.80 during midday trading on Wednesday, reaching $281.94. The company had a trading volume of 3,195 shares, compared to its average volume of 400,705. The business’s 50-day simple moving average is $311.28 and its 200 day simple moving average is $320.21. The stock has a market cap of $13.22 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.93 and a beta of 1.13. Teleflex has a 1 year low of $256.77 and a 1 year high of $428.36. The company has a current ratio of 2.28, a quick ratio of 1.53 and a debt-to-equity ratio of 0.46.

Teleflex (NYSE:TFXGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The medical technology company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $641.70 million during the quarter, compared to analysts’ expectations of $631.89 million. Teleflex had a net margin of 17.31% and a return on equity of 17.24%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $2.87 earnings per share. Analysts predict that Teleflex will post 13.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th will be issued a $0.34 dividend. The ex-dividend date is Friday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.48%. Teleflex’s dividend payout ratio is currently 13.22%.

About Teleflex (Get Rating)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.

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