Needham has decided to maintain its Buy rating of Teleflex (NYSE:TFX) and lower its price target from $400.00 to $355.00.
Shares of Teleflex are trading down 1.62% over the last 24 hours, at $290.71 per share.
A move to $355.00 would account for a 22.11% increase from the current share price.
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 (25% of 2021 sales), interventional (15%), anesthesia (14%), surgical (13%), interventional urology (12%), original-equipment manufacturing (9%), and all other (12%). 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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