Teleflex Incorporated (NYSE:TFX) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 721,900 shares, a growth of 33.4% from the September 30th total of 541,000 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 269,200 shares, the days-to-cover ratio is presently 2.7 days.
Teleflex stock opened at $346.89 on Friday. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.09 and a beta of 0.96. The stock has a fifty day simple moving average of $330.93 and a two-hundred day simple moving average of $330.70. Teleflex has a 12 month low of $226.02 and a 12 month high of $373.90. The company has a current ratio of 2.33, a quick ratio of 1.44 and a debt-to-equity ratio of 0.72.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, October 31st. The medical technology company reported $2.97 EPS for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.22. The business had revenue of $648.32 million during the quarter, compared to analyst estimates of $643.20 million. Teleflex had a return on equity of 18.81% and a net margin of 17.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.52 EPS. On average, equities research analysts forecast that Teleflex will post 11.08 EPS for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 14th. Teleflex’s payout ratio is currently 13.74%.
TFX has been the subject of a number of recent research reports. Svb Leerink lifted their price objective on Teleflex from $395.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their target price on Teleflex from $345.00 to $392.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Barclays set a $365.00 target price on Teleflex and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Leerink Swann set a $405.00 target price on Teleflex and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $381.30.
In other Teleflex news, CFO Thomas E. Powell sold 7,500 shares of Teleflex stock in a transaction on Friday, September 6th. The stock was sold at an average price of $355.52, for a total transaction of $2,666,400.00. Following the completion of the transaction, the chief financial officer now owns 18,197 shares in the company, valued at $6,469,397.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benson Smith sold 8,481 shares of Teleflex stock in a transaction on Monday, November 4th. The shares were sold at an average price of $345.37, for a total value of $2,929,082.97. Following the transaction, the director now owns 57,290 shares of the company’s stock, valued at approximately $19,786,247.30. The disclosure for this sale can be found here. Insiders have sold 79,581 shares of company stock valued at $26,901,042 in the last quarter. 2.36% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Reilly Financial Advisors LLC bought a new stake in shares of Teleflex in the second quarter worth $25,000. Orrstown Financial Services Inc. bought a new stake in shares of Teleflex in the third quarter worth $35,000. Atlas Capital Advisors LLC bought a new stake in shares of Teleflex in the third quarter worth $39,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Teleflex in the second quarter worth $46,000. Finally, CSat Investment Advisory L.P. grew its holdings in shares of Teleflex by 97.4% in the second quarter. CSat Investment Advisory L.P. now owns 150 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 74 shares during the period. 91.03% of the stock is owned by institutional investors.
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 offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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