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Teleflex Inc TFX

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Rebounding Surgeries and Ongoing UroLift Adoption Lift Teleflex Above Prepandemic Baseline in Q2

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

Teleflex reported good second-quarter results, with constant-currency sales growth of 21% and adjusted earnings per share growth 74% on a favorable comparable to last year. While Teleflex slightly exceeded our expectations, this was offset by the implementation of a weighted average U.S. corporate tax rate of 26% in our model, and we maintain our $183 fair value estimate and no-moat rating.

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Company Profile

Business Description

Teleflex is a Wayne, Pennsylvania-based manufacturer of hospital supplies and medical devices primarily in the bloodstream/vascular and surgical areas. The firm reports results across seven segments: vascular access (26% of 2020 sales), interventional (15%), surgical (13%), anesthesia (12%), interventional urology (13%), original-equipment manufacturing (7%), and all other (14%). Geographic exposure for the business is primarily in the U.S., which accounts for 60% of revenue, with international markets making up the remainder.

Contact
550 East Swedesford Road, Suite 400
Wayne, PA, 19087
T +1 610 225-6800
Sector Healthcare
Industry Medical Instruments & Supplies
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Classic Growth
Employees 14,000