In a report released yesterday, Patrick Wood from Morgan Stanley maintained a Buy rating on Teleflex, with a price target of $155.00.
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Patrick Wood’s rating is based on several positive developments within Teleflex’s recently acquired Vascular business from Biotronik. The business demonstrated a notable 7% growth in the third quarter, which exceeded expectations, especially considering its significant sales presence in the EMEA region, known for lower volume growth. This growth was primarily driven by the DCB portfolio and the PK Papyrus covered stents, which received strong endorsements from a panel of clinicians. These stents are particularly effective in managing acute coronary artery perforations, a critical condition in certain surgical procedures.
Moreover, the integration of the Vascular business is progressing well, with Teleflex increasing its sales force by approximately 50%, which boosts confidence in future performance. The company’s strategic focus on resorbable stents, particularly the magnesium-based Freesolve, has been positively received by physicians, highlighting its advantages over older polymer stents. With consistent resorption and better scaffolding capacity, Freesolve is expected to make a significant impact when launched in the U.S. in 2028. These factors collectively contribute to Patrick Wood’s optimistic Buy rating for Teleflex’s stock.
Wood covers the Healthcare sector, focusing on stocks such as Shoulder Innovations, Inc., Medtronic, and TransMedics Group. According to TipRanks, Wood has an average return of 1.6% and a 61.22% success rate on recommended stocks.
In another report released on October 31, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $132.00 price target.