Colfax Co. (NYSE:CFX) Short Interest Down 30.2% in January


Colfax Co. (NYSE:CFX) benefited from a sharp decline in short interest in January. As of January 15, there was short interest totaling 6,190,000 shares, down 30.2% from the total of 8,870,000 shares as of December 31. Based on an average daily volume of 1,120,000 shares, the day-to-cover ratio is currently 5.5 days.

In a similar vein, Executive Vice President Shyam Kambeyanda sold 2,366 shares of Colfax in a trade dated Tuesday, December 14. The stock was sold at an average price of $44.33, for a total transaction of $104,884.78. The transaction was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, CFO Christopher M. Hix sold 4,345 shares of Colfax in a trade dated Tuesday, Dec. 14. The stock was sold at an average price of $44.33, for a total value of $192,613.85. The disclosure of this sale can be found here. In the past three months, insiders have sold 70,896 shares of the company valued at $3,708,465. Company insiders hold 9.60% of the company’s stock.

A number of institutional investors and hedge funds have recently changed their holdings in the company. First Horizon Advisors Inc. increased its position in Colfax shares by 385.5% during the third quarter. First Horizon Advisors Inc. now owns 335 shares of the industrial products company valued at $32,000 after acquiring 266 additional shares last quarter. Lindbrook Capital LLC increased its position in Colfax by 57.6% in the fourth quarter. Lindbrook Capital LLC now owns 843 shares of the industrial products company worth $39,000 after purchasing an additional 308 shares during the period. Itau Unibanco Holding SA bought a new position in shares of Colfax during the 2nd quarter for a value of $45,000. Farmers & Merchants Investments Inc. increased its stake in Colfax shares by 358.2% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,095 shares of the industrial products company worth $50,000 after acquiring 856 additional shares in the last quarter. Finally, US Bancorp DE increased its stake in Colfax shares by 9.2% in the 3rd quarter. US Bancorp DE now owns 2,734 shares of the industrial products company worth $125,000 after acquiring 231 more shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s shares.

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A number of analysts have recently released reports on the company. Barclays lowered its price target on Colfax from $44.00 to $43.00 and set an “underweight” rating on the stock in a Monday, October 4 research report. Morgan Stanley cut its price target on Colfax from $51.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft cut its price target on Colfax from $55.00 to $54.00 and placed a “hold” rating on the stock in a Friday, Dec. 10 research note. Loop Capital began covering Colfax in a report on Wednesday, Jan. 5. They issued a “hold” rating and a price target of $45.00 for the company. Finally, KeyCorp raised its price target on Colfax from $57.00 to $60.00 and gave the company an “overweight” rating in a Friday, Nov. 5, report. One research analyst rated the stock with a sell rating, four issued a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.38.

Shares of Colfax were up $0.63 during Monday’s trading, hitting $41.12. The stock recorded a trading volume of 1,517,431 shares, compared to an average volume of 1,254,573 shares. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 57.92, a growth price-to-earnings ratio of 0.82 and a beta of 2.15. Colfax has a 12-month low of $36.72 and a 12-month high of $54.67. The company’s 50-day moving average price is $45.31. The company has a debt ratio of 0.35, a quick ratio of 0.97 and a current ratio of 1.77.

Colfax (NYSE:CFX) last released its quarterly results on Thursday, November 4. The industrial products company reported earnings per share (EPS) of $0.54 for the quarter, matching the consensus estimate of $0.54. The company posted revenue of $965.89 million in the quarter, compared to analyst estimates of $958.44 million. Colfax had a net margin of 2.92% and a return on equity of 7.28%. The company’s revenue increased 19.8% year over year. In the same period a year earlier, the company posted earnings per share of $0.41. On average, sell-side analysts expect Colfax to post earnings per share of 2.12 for the current fiscal year.

About Colfax

Colfax Corp. operates as a diversified technology company. The company provides its customers with products and services in orthopedic care and manufacturing technology. It operates through the following segments: Medical Technology and Manufacturing Technology. The Medical Technologies segment develops, manufactures and distributes medical devices used for rehabilitation, pain management and physical therapy.

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