Teleflex Incorporated (NYSE:TFX – Get Free Report) saw a large increase in short interest during 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. Currently, 11.5% of the shares of the company are short sold. Based on an average daily trading volume, of 760,689 shares, the days-to-cover ratio is currently 6.4 days.
Hedge Funds Weigh In On Teleflex
Hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP boosted its position in Teleflex by 460.7% during 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 in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Teleflex in the second quarter valued at $1,065,000. California State Teachers Retirement System increased its position in shares of Teleflex by 12,426.5% in the second quarter. California State Teachers Retirement System now owns 6,447,647 shares of the medical technology company’s stock valued at $817,304,000 after buying an additional 6,396,175 shares in the last quarter. Syon Capital LLC acquired a new position in shares of Teleflex during the 2nd quarter worth $207,000. Finally, Nykredit A S acquired a new position in shares of Teleflex during the 2nd quarter worth $211,000. 95.62% of the stock is owned by hedge funds and other institutional investors.
Teleflex Price Performance
Shares of NYSE TFX traded down $1.46 during midday trading on Tuesday, hitting $140.59. The company had a trading volume of 565,007 shares, compared to its average volume of 777,802. The company has a quick ratio of 2.12, a current ratio of 2.60 and a debt-to-equity ratio of 0.94. Teleflex has a twelve month low of $100.18 and a twelve month high of $145.00. The business has a 50-day simple moving average of $134.59 and a two-hundred day simple moving average of $126.54. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -6.04, a price-to-earnings-growth ratio of 0.93 and a beta of 0.81.
Teleflex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 14th will be issued a $0.34 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.0%. Teleflex’s dividend payout ratio is currently -5.84%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on TFX shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Teleflex in a report on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Teleflex in a report on Wednesday, July 8th. They set an “outperform” rating and a $159.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Teleflex from $130.00 to $138.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen raised Teleflex from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Truist Financial boosted their target price on Teleflex from $143.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Teleflex has an average rating of “Hold” and a consensus price target of $152.90.
Read Our Latest Research Report on TFX
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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