This Medical Devices Stock Has Several Catalysts, Says Bullish Analyst

Teleflex Inc (NYSE:TFX) benefited in the first quarter from the surge in the interventional segment and other tailwinds.

UroLift sales in the physician's office could bottom out at $49 million in 2024 and the franchise will be "less of a revenue headwind" from 2025, according to Piper Sandler.

The Teleflex Analyst: Matt O’Brien upgraded the rating for Teleflex from Neutral to Overweight, while raising the price target from $205 to $245.

The Teleflex Thesis: UroLift sales, which has prevented the stock from performing in recent quarters, should trough in the second or third quarter this year, O’Brien said in the upgrade note.

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The company's sole competitor in the IABP market, Getinge is "facing significant regulatory issues with its production and sale of product, which makes about $170M worth of annual revenue potentially available to Teleflex," the analyst wrote.

He added that the impact of this could be felt in 2025, adding about 100-200 basis points to revenue and earnings growth.

"We continue to get good feedback on the Barrigel product that TFX acquired last year and believe this product could grow north of 20% for several years," O’Brien further stated.

TFX Price Action: Shares of Teleflex had risen by 1.7% to $213.92 at the time of publication on Monday.

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