1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
Teleflex reported first-quarter results that largely met expectations and remains on track to generate low-double-digit growth for the year as the company laps COVID-19 pandemic lows from 2020. We are maintaining our $183 fair value estimate and no-moat rating.
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.
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