Teleflex (TFX) Gets a Buy Rating from Needham
Needham analyst Michael Matson reiterated a Buy rating on Teleflex (TFX) today and set a price target of $431.00. The company’s shares closed last Thursday at $336.43.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 7.0% and a 58.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Teleflex is a Strong Buy with an average price target of $373.57.
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Based on Teleflex’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $681 million and net profit of $108 million. In comparison, last year the company earned revenue of $642 million and had a net profit of $90.59 million.
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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: Americas, EMEA (Europe, the Middle East and Africa), Asia (Asia Pacific) and OEM. The Americas segment engages in the sales of interventional urology products. The EMEA engages in the sales of urology products. 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.