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Teleflex to Introduce Arrow AC3 Optimus at EuroPCR, Paris

Zacks

Based in Wayne, PA, Teleflex Inc. TFX, a global provider of medical technologies, recently announced plans to introduce Arrow AC3 Optimus Intra-Aortic Balloon Pump (IABP) and a complex Percutaneous coronary intervention (PCI) product portfolio at the European Association for Percutaneous Cardiovascular Interventions Course (EuroPCR) in Paris during May 16–19.

Notably, Teleflex’s PCI portfolio consists of the GuideLiner Catheter Platform, TrapLiner Catheter, Turnpike Catheter, Twin-Pass Torque Dual Access Catheter and R350 GuideWire. With the recent takeover of Vascular Solutions, Teleflex leverages on its highly innovative PCI products.

Meanwhile, Arrow AC3 Optimus delivers IABP therapy to a broad range of patients with the most severe arrhythmias or with heart rates as high as 200 beats per minute.

Teleflex has been gaining prominence in the niche space with a series of developments in the recent past. In this regard, the company also announced the initiation of a Phase I clinical study, in collaboration with the U.S. Army Medical Materiel Development Activity.


Stock Performance & Estimate Revision Trend

Teleflex has had an impressive run on the bourse on a year-to-date basis.

The company gained roughly 20.8%, higher than the Zacks categorized Medical instruments sub-industry’s addition of almost 12.1%. Moreover, the current level compares favorably with the S&P 500’s return of 8.3% over the same time frame. This, together with a long-term expected earnings growth rate of 10.7%, instills confidence in investors.

Furthermore, the estimate revision for the stock has been favorable. The year has seen five estimates move north over the last two months, compared with no movement in the opposite direction. As a result, the full-year estimates inched up 0.5% to $8.14 over the same time frame.

Driven by the bullish analyst sentiments, Teleflex carries a Zacks Rank #2 (Buy), signifying probabilities of outperformance in the near term.

Bottom line

Per a research by Evaluate, the global interventional cardiology market is expected to grow at a CAGR of 15.0% to reach a worth of $13,920 million in 2021 and $35,537 million in 2027. This is likely to fortify the company’s foothold in the niche markets.

Of the major developments in the recent past, Teleflex had an impressive performance on the regulatory front. The company received FDA clearance for its Arrow Midline (with Chlorag+ard Technology), Arrow JACC and TightTrack tunneler platforms. Also, the receipt of 510(k) approval from the U.S. FDA for its Arrow VPS Rhythm device for commercial use is a strong positive in our view.

Other Key Picks

Other top-ranked stocks in the broader medical sector are Luminex Corporation LMNX, Hologic, Inc. HOLX and Inogen Inc INGN. Notably, Inogen and Luminex sport a Zacks Rank #1 (Strong Buy), while Hologic carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Inogen promises a long-term adjusted earnings growth of almost 17.5%. The stock returned 84.1% over the last one year.

Luminex has an expected long-term adjusted earnings growth of almost 16.3%. The stock added roughly 17.6% over the last three months.

Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 28.8%.

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