BUZZ-Teleflex drops after lowering 2025 revenue forecast
Teleflex Incorporated TFX | 0.00 |
Updates
** Shares of medical device maker Teleflex TFX.N fall 12.5% to $110.69
** Co cuts revenue forecast for 2025 to $3.270 billion to $3.278 billion vs. previous forecast of $3.305 billion to $3.320 billion
** Analysts were expecting a revenue of $3.32 billion - data compiled by LSEG
** RBC Capital Markets lowers PT to $130 from $135 and says "we view the guidance miss as unexpected, given the lower bar coming into Q4"
** Co says reduction is principally the result of softer-than-expected year-end demand for intra-aortic balloon pumps and catheters in the U.S. and Asia, and delays in certain purchase orders in the OEM business
** "We would expect a miss on EPS as well," RBC adds
** Appoints Stuart Randle as interim CEO, effective immediately
** Randle succeeds Liam Kelly, who departs as chairman, president and CEO
** As of last close, stock down 28.9% in the past 12 months
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
