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

Teleflex Incorporated (NYSE:TFX - Get Free Report) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 712,200 shares, a decrease of 19.8% from the March 31st total of 888,200 shares. Based on an average trading volume of 264,200 shares, the short-interest ratio is currently 2.7 days.

Insider Transactions at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the company's stock in a transaction 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 directly owns 10,050 shares of the company's stock, valued at $2,261,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.43% of the company's stock.

Hedge Funds Weigh In On Teleflex

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 103 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Teleflex in the 3rd quarter valued at approximately $27,000. Covestor Ltd lifted its stake in shares of Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Teleflex in the 1st quarter valued at approximately $31,000. Finally, Lindbrook Capital LLC lifted its stake in shares of Teleflex by 75.3% in the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company's stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Analyst Upgrades and Downgrades

TFX has been the topic of a number of research analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Royal Bank of Canada lowered their price target on Teleflex from $272.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. Truist Financial lowered their target price on Teleflex from $270.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, February 23rd. Finally, StockNews.com downgraded Teleflex from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Four 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $267.50.

Teleflex Stock Performance

Shares of NYSE TFX remained flat at $206.71 during trading on Friday. The stock had a trading volume of 433,169 shares, compared to its average volume of 249,291. The company has a 50 day simple moving average of $221.23 and a 200 day simple moving average of $226.03. The company has a quick ratio of 1.29, a current ratio of 2.32 and a debt-to-equity ratio of 0.39. Teleflex has a 1 year low of $177.63 and a 1 year high of $276.43. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.98 and a beta of 1.11.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.12. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The firm had revenue of $773.90 million during the quarter, compared to analysts' expectations of $769.01 million. During the same quarter last year, the business posted $3.52 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Teleflex will post 13.73 EPS for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex's dividend payout ratio is presently 18.06%.

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.