Shares of Limerick, PA-based specialty medical devices
) reached a new 52-week high of $106.22 in mid-day trading on Mar
21. Shares of the company closed at $105.32 on the same day,
representing a solid one-year return of 31.8%.
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TELEFLEX INC (TFX): Free Stock Analysis
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Teleflex has a market cap of $4.3 billion. Average volume of
shares traded stood at approximately 373.1K.
Shares of Teleflex started escalating following its impressive
2013-fourth quarter results and promising 2014 guidance as well
as its recent 510(k) clearance from U.S. Food and Drug
Administration (FDA) for its restated Indications for Use of the
EZ-IO Vascular Access System.
Teleflex posted an 18.3% rise in adjusted earnings to $1.36 per
share for the fourth quarter of 2013 from $1.15 in the same
quarter of 2012. With this, earnings significantly beat the Zacks
Consensus Estimate by 9 cents.
Net revenues went up 7.5% to $450.5 million, exceeding the Zacks
Consensus Estimate of $436 million. Excluding foreign exchange
fluctuations, net revenues rose 6.9% from the prior-year quarter.
The increase in revenues was attributable to contribution from
the acquisitions of LMA International in Oct 2012 and Vidacare
Corporation in Dec 2013, an increase in the average selling price
of products, launch of new products and an additional shipping
day in the reported quarter versus the same quarter of 2012.
For 2014, Teleflex anticipates revenue growth between 6.0 and
8.0% versus 2013. In constant currency, the company expects
revenues to increase by 7.0 and 9.0%.
Teleflex also expects adjusted earnings per share in the range of
$5.35 to $5.55 for 2014, reflecting a 6.4 to 10.3% rise from
2013. The current Zacks Consensus Estimate of $5.51 lies within
the guided range.
Last week's 510(k) clearance from FDA for its restated
Indications for Use of the EZ-IO Vascular Access System will help
clinicians to assess the tissue depth and select the correct
needle size for treating the patients. EZ-IO Vascular Access
System has been developed by Vidacare Corporation, acquired by
Teleflex in Dec last year.
Currently, Teleflex carries a Zacks Rank #3 (Hold). Some
better-ranked stocks in the medical instruments industry include
Syneron Medical Ltd.
). Both Cynosure and Syneron Medical sport a Zacks Rank #1
(Strong Buy), while ABIOMED carries a Zacks Rank #2 (Buy).