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

Key Points

• Teleflex short interest surged 59.7% to 4.84 million shares as of August 14, representing about 11.5% of shares outstanding and a 6.4-day short ratio.
• The company reported quarterly EPS of $1.76, beating estimates by $0.48, while revenue rose 28.9% year over year to $570.33 million. Shares traded up 1.7% to $142.08.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a $152.90 price target; several firms raised targets as high as $170.00. Institutional investors own 95.62% of the stock.

Teleflex Incorporated (NYSE:TFX - Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 4,835,328 shares, an increase of 59.7% from the July 30th total of 3,027,778 shares. Based on an average daily volume of 760,689 shares, the days-to-cover ratio is currently 6.4 days. Approximately 11.5% of the shares of the company are short sold.

Teleflex Trading Up 1.7%

NYSE:TFX traded up $2.41 during mid-day trading on Monday, reaching $142.08. The company's stock had a trading volume of 644,170 shares, compared to its average volume of 779,030. Teleflex has a twelve month low of $100.18 and a twelve month high of $145.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.60 and a quick ratio of 2.12. The stock has a market cap of $6.02 billion, a P/E ratio of -6.10, a P/E/G ratio of 0.93 and a beta of 0.81. The company's fifty day simple moving average is $133.86 and its two-hundred day simple moving average is $126.05.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical technology company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.28 by $0.48. The business had revenue of $570.33 million for the quarter, compared to analysts' expectations of $559.59 million. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. The company's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.73 earnings per share. Teleflex has set its FY 2026 guidance at 6.900-7.200 EPS. On average, equities analysts predict that Teleflex will post 7.26 EPS for the current year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 14th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Teleflex's payout ratio is -5.84%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $169.00 price objective (up from $160.00) on shares of Teleflex in a research note on Friday, August 7th. BMO Capital Markets started coverage on shares of Teleflex in a report on Wednesday, July 8th. They issued an "outperform" rating and a $159.00 target price on the stock. Needham & Company LLC boosted their price target on shares of Teleflex from $159.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Raymond James Financial reissued an "outperform" rating and set a $150.00 price target on shares of Teleflex in a report on Friday, May 8th. Finally, UBS Group raised their price objective on shares of Teleflex from $145.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $152.90.

Hedge Funds Weigh In On Teleflex

Several large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP boosted its holdings in Teleflex by 460.7% in the second quarter. Corient Private Wealth LP now owns 23,063 shares of the medical technology company's stock worth $2,923,000 after purchasing an additional 18,950 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Teleflex during the second quarter worth $1,065,000. California State Teachers Retirement System lifted its position in shares of Teleflex by 12,426.5% in the 2nd quarter. California State Teachers Retirement System now owns 6,447,647 shares of the medical technology company's stock worth $817,304,000 after buying an additional 6,396,175 shares during the last quarter. Syon Capital LLC bought a new position in shares of Teleflex in the 2nd quarter worth about $207,000. Finally, Nykredit A S acquired a new position in shares of Teleflex in the 2nd quarter valued at about $211,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Company Profile

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company's offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.

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