Morningstar

Morningstar, Inc.

Equity Bottom-Up

The Teleflex story is one of constant change, from the firm’s 1943 founding as a manufacturer of components for WWII aircraft to the final divestment of its industrial businesses in 2011, and full transition into medical devices thereafter. Under the leadership of former CEO Benson Smith, the company completed its transition from industrial conglomerate to pure-play medical device manufacturer, with the core business focusing on vascular, surgery, and anesthesia end markets. The firm’s strategy…

Teleflex's first-quarter results were consistent with our expectations on an underlying basis, but reported numbers fell slightly short due to stronger currency headwinds than we anticipated. Nevertheless, it appears the firm is well on its way to meeting our forecasts for the full year, and we'll likely raise our $196 per share fair value estimate for this no-moat name by a mid-single-digit percentage to account for the cash flows received since our last update
The firm posted constant…

United States

Teleflex Incorporated is a global provider of medical technology products. The Company primarily develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.