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

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

Teleflex Trading Up 1.0 %

NYSE TFX traded up $2.30 during mid-day trading on Thursday, reaching $226.17. 288,756 shares of the stock were exchanged, compared to its average volume of 260,089. Teleflex has a 1-year low of $177.63 and a 1-year high of $276.43. The business's fifty day simple moving average is $236.16 and its 200 day simple moving average is $224.08. The stock has a market capitalization of $10.64 billion, a PE ratio of 30.04, a PEG ratio of 2.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.12. The company 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%. Teleflex's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.52 EPS. On average, research analysts anticipate that Teleflex will post 13.73 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.34 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.60%. Teleflex's dividend payout ratio (DPR) is presently 18.06%.

Insider Activity at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the sale, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Teleflex

Hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Teleflex by 2.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,231 shares of the medical technology company's stock valued at $792,000 after acquiring an additional 54 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Teleflex by 2.2% during the 1st quarter. HighTower Advisors LLC now owns 4,678 shares of the medical technology company's stock valued at $1,655,000 after acquiring an additional 99 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Teleflex during the 1st quarter valued at $455,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Teleflex by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,268 shares of the medical technology company's stock valued at $2,224,000 after acquiring an additional 388 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Teleflex by 2.7% during the 1st quarter. Yousif Capital Management LLC now owns 7,158 shares of the medical technology company's stock valued at $2,540,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

Analyst Ratings Changes

TFX has been the subject of a number of research analyst reports. StockNews.com cut shares of Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Morgan Stanley raised shares of Teleflex from an "equal weight" rating to an "overweight" rating and set a $261.00 price objective for the company in a research note on Monday, December 4th. Truist Financial dropped their price objective on shares of Teleflex from $270.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, February 23rd. Royal Bank of Canada dropped their price objective on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. Finally, Raymond James raised their price objective on shares of Teleflex from $227.00 to $271.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 20th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Teleflex currently has a consensus rating of "Moderate Buy" and a consensus 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.