Teleflex Incorporated (NYSE:TFX) Short Interest Down 42.0% in March

Teleflex Incorporated (NYSE:TFX) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 817,200 shares, a decline of 42.0% from the February 29th total of 1,410,000 shares. Based on an average trading volume of 250,100 shares, the short-interest ratio is presently 3.3 days.

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now owns 10,050 shares of the company’s stock, valued at $2,261,250. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently modified their holdings of TFX. Rafferty Asset Management LLC boosted its holdings in shares of Teleflex by 6.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock valued at $964,000 after purchasing an additional 314 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in Teleflex by 4.3% during the third quarter. Royal London Asset Management Ltd. now owns 17,753 shares of the medical technology company’s stock valued at $3,487,000 after buying an additional 737 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Teleflex in the third quarter worth $27,000. Pinebridge Investments L.P. acquired a new position in shares of Teleflex in the 2nd quarter valued at about $700,000. Finally, Qube Research & Technologies Ltd boosted its position in Teleflex by 97.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 23,767 shares of the medical technology company’s stock valued at $4,668,000 after purchasing an additional 11,743 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Price Performance

TFX stock traded up $1.24 during midday trading on Thursday, hitting $225.11. 14,557 shares of the stock were exchanged, compared to its average volume of 255,539. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.07 and a beta of 1.11. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $276.43. The stock’s 50-day moving average price is $236.16 and its 200-day moving average price is $224.08.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.26 by $0.12. The business had revenue of $773.90 million for the quarter, compared to analyst estimates of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.52 EPS. Research analysts predict that Teleflex will post 13.73 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, February 29th. Teleflex’s payout ratio is currently 18.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Raymond James raised their price target on Teleflex from $227.00 to $271.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and set a $261.00 price objective on the stock in a research report on Monday, December 4th. Truist Financial cut their price objective on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, JMP Securities restated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $265.56.

Teleflex Company Profile

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.