Needham analyst Michael Matson reiterated a Buy rating on Teleflex Inc (TFX) today and set a price target of $325. The company’s shares closed yesterday at $275.23.
Matson commented:
“TFX’s 4Q18 revenue and EPS came in just above consensus. Management provided 2019 revenue growth guidance and EPS guidance that bracketed consensus. Organic revenue growth improved to 7.7% in 4Q18 adjusting for selling days from 5.6% in 3Q18. Operating margin was up 110 bps Y/Y given drop-through of 110 bps of Y/Y gross margin improvement. We view RePlas as potential sources of upside to TFX’s 2019 guidance and we reiterate our Strong Buy rating and raise our price target to $325 from $315.”
According to TipRanks.com, Matson is a top 100 analyst with an average return of 13.7% and a 69.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Teleflex Inc is a Strong Buy with an average price target of $310, which is a 12.6% upside from current levels. In a report released yesterday, Stephens also reiterated a Buy rating on the stock with a $300 price target.
See today’s analyst top recommended stocks >>
Teleflex Inc’s market cap is currently $12.65B and has a P/E ratio of 195.56. The company has a Price to Book ratio of 5.05.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
