Needham analyst Michael Matson reiterated a Buy rating on Teleflex Inc (NYSE: TFX) today and set a price target of $293. The company’s shares closed yesterday at $267.71.
Matson wrote:
“TFX is hosting an analyst day on 5/11/18 in New York. We note that TFX is on track to beat three out of four of its long range plan (LRP) targets (revenue growth, gross margin improvement, operating margin improvement, and free cash flow growth) from its 2015 analyst day. Assuming that TFX updates its prior four targets for 2019-2021, we expect it to target organic revenue growth that is slightly below consensus (~50 bps) and to set targets in line with consensus for the other items. We expect investors to view the revenue growth target at conservative, however, and don’t expect a negative stock reaction. We have also provided a list of ten questions that we think will be important for management to address at the analyst day (see page 2). We expect the analyst day to be a positive catalyst and reiterate our Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.1% and a 61.3% 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 $281.67.
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Teleflex Inc’s market cap is currently $12.17B and has a P/E ratio of 74.99. The company has a Price to Book ratio of 4.75.
Based on the recent corporate insider activity of 57 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.
