Jamie Murray
Teleflex Inc.
TFX-N
PAST TOP PICK
Oct 02, 2018
(Past Top Pick May 4, 2018,Down 2%) It pulled back heavily after August earnings. There were concerns over legacy products lines and weak organic growth. He used that pullback to double his position. Still likes it. There's margin expansion as they consolidate their manufacturing operation. They have high-growth product lines with EPS growth at 15%. He really likes the medical products space because of the aging population.
(Market Call Minute.) Wouldn't buy it as they are at the bottom of the totem pole. They manufacture products for OEM equipment and pricing pressures are a huge problem for them right now.
Medical device manufacturer. Very diverse product portfolio. Revenues going up. Margin improving. Should lead to mid-teens earnings growth. (Analysts’ price target is $279.91)
BSX-N vs. TFX-N. TFX-N is a smaller high growth company. BSX-N is a market leader but recovering from a few years of bad management. He has a low $40s target in a year. He would stick with it.
(A Top Pick May 04/18, Up 24%) He actually doubled his position. They're still growing their margins and are making acquisitions. The multiple and stock price have ticked, but earnings not as much. Wait for a better entry point. The execute well.
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(Past Top Pick May 4, 2018, Down 2%) It pulled back heavily after August earnings. There were concerns over legacy products lines and weak organic growth. He used that pullback to double his position. Still likes it. There's margin expansion as they consolidate their manufacturing operation. They have high-growth product lines with EPS growth at 15%. He really likes the medical products space because of the aging population.