In a report released today, Michael Matson from Needham maintained a Buy rating on Teleflex Inc (NYSE: TFX), with a price target of $298. The company’s shares closed on Friday at $265.68.
Matson observed:
“TFX hosted its biennial analyst day in Friday, 5/11. The meeting highlighted TFX’s key growth opportunities including coated catheters, emergency medicine, interventional procedures, percutaneous laparoscopy, and men’s health as well as its international businesses. TFX also provided an updated financial outlook for 2019-2021 that was mostly in line with consensus. The sole exception was organic growth, which, as we anticipated, was slightly lower than consensus. We think TFX remains an attractive long-term story given its accelerating revenue growth, room for further margin improvement, and healthy cash flow than can be deployed for additional growth and EPS-accretive M&A. Reiterate Buy.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.5% and a 62.8% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Teleflex Inc has an analyst consensus of Moderate Buy, with a price target consensus of $282.50.
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The company has a one-year high of $288.78 and a one-year low of $191.40. Currently, Teleflex Inc has an average volume of 315K.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock.
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Teleflex, Inc. provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications. It operates through the following business segments: Vascular North America, Interventional North America, Anesthesia North America, Surgical North America, Europe, the Middle East and Africa (EMEA), Asia and Original Equipment Manufacturer and Development Services (OEM). The Vascular North America segment products facilitate a variety of critical care therapies, including the administration of intravenous medications and other therapies and the measurement of blood pressure and taking of blood samples through a single puncture site. The Interventional North America segment is comprised of the North American component of Vascular Solutions business. The Anesthesia North America segment provides products for clinicians working primarily in emergency rooms, surgery and critical care settings. The Surgical North America segment products are predominantly comprised of single-use products, including ligation clips and closure products; appliers and sutures used in a variety of surgical procedures; access ports used in minimally invasive laparoscopic surgical procedures, including robotic surgery, and fluid management products used for chest drainage. The EMEA segment designs, manufactures and distributes medical devices primarily used in critical care, surgical applications and cardiac care and generally serves two end markets: hospitals and healthcare providers, and home health. The Asia segment designs, manufactures and distributes medical devices primarily used in critical care, surgical applications and cardiac care and generally serves hospitals and healthcare providers. The OEM segment designs, manufactures and supplies devices and instruments for other medical device manufacturers. Teleflex was founded in 1943 and is headquartered in Wayne, PA.
