In a report released today, Michael Matson from Needham reiterated a Buy rating on Teleflex Inc (NYSE: TFX), with a price target of $293. The company’s shares opened today at $266.15.
Matson commented:
“TFX’s 1Q18 revenue and EPS beat consensus and management raised its 2018 revenue and EPS guidance. Organic revenue growth improved to 3.7% (adjusted for selling days and a product line exit) in 1Q18 from 1.8% in 4Q17. Importantly, TFX’s pro forma selling day adjusted revenue growth was 6.6% in 1Q18. Gross margin was up 190 bps Y/Y and operating margin was up 60 bps Y/Y driving 19% EPS growth. While this was a strong start to the year, we think the muted stock reaction indicates that investors were hoping for more upside. Nonetheless, we expect TFX to continue to beat and raise during 2018 and expect this to ultimately be rewarded with a higher share price and we reiterate our Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.6% and a 59.1% 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 Strong Buy, with a price target consensus of $285.40.
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Based on Teleflex Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $595 million and GAAP net loss of $42.66 million. In comparison, last year the company earned revenue of $488 million and had a net profit of $40.17 million.
Based on the recent corporate insider activity of 54 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.
