TFX - Teleflex: Compelling Despite Some Operational Hiccups

2024-05-06 06:41:55 ET

Summary

• Teleflex is a medical device and instrument manufacturer with $3 billion in sales, supplying a wide range of products.
• The company saw strong growth in the 2010s as growth slowed down in recent years.
• Despite slower growth and concerns about GLP-1 drugs, Teleflex's lower valuation multiples make it an appealing investment opportunity.

In the summer of last year, I believed that shares of Teleflex ( TFX ) were flexing their muscles a bit, as operating momentum accelerated a bit again after a tougher 2022. The company announced its next bolt-on acquisition, although this strategic acquisition was rather expensive....

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