Needham Reiterates Hold Rating on Teleflex (TFX)

Needham analyst Mike Matson reiterated a Hold rating on Teleflex (NYSE: TFX).

The analyst commented: "On 12/4/24, Bloomberg reported that TFX is in discussions to acquire Biotronik's (private) vascular business for €500M-1.00B (~$525M-1.050B), though an agreement may not be reached. The business produces a range of stents, balloons, and guidewires for both peripheral and coronary procedures. We believe that the acquisition would make strategic sense for TFX since the Biotronik products would be complementary to TFX's Interventional business. If we assume that the financial profile of the Biotronik vascular business is similar to its publicly traded peers, we estimate that the deal would likely be modestly accretive to TFX's organic revenue growth, accretive to its gross margin, and modestly accretive to its EPS (~2-3% in 2026). We would prefer acquisitions that are more accretive to TFX's revenue growth and maintain our Hold rating."

For an analyst ratings summary and ratings history on Teleflex click here. For more ratings news on Teleflex click here.

Shares of Teleflex closed at $180.14 yesterday.

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