Teleflex's Growth Drivers In Question: Analyst Predicts Potential Business Realignment
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Mike Matson downgraded Teleflex Incorporated (NYSE:TFX) to Hold from Buy due to concerns over growth drivers. Urologists are reducing their use of UroLift, and TFX's Manta large-bore closure device may face competition in the US by 2024. Matson predicts potential business realignment, including divesting slower growth businesses and acquiring higher growth ones.
June 21, 2023 | 6:13 pm
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Teleflex downgraded to Hold from Buy by Needham analyst Mike Matson due to concerns over growth drivers, including declining UroLift usage and potential competition for Manta device.
The downgrade by Needham analyst Mike Matson is based on concerns over Teleflex's growth drivers. Urologists are reducing their use of UroLift, and TFX's Manta large-bore closure device may face competition in the US by 2024. This could negatively impact the company's growth and stock price in the short term.
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