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Teleflex (TFX) Picked for Vizient Innovative Technology Exchange

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Teleflex (TFX - Free Report) recently announced its participation at the Vizient Innovative Technology Exchange, to be held on Oct 3, 2023, in Grapevine, TX. The company has been selected to exhibit Arrow VPS Rhythm DLX Device and Arrow PICCs preloaded with the NaviCurve Stylet.

For investors note, Vizient, Inc. is the largest provider-driven healthcare performance improvement company in the United States. Showcasing the PICCs and Navigation system at Vizient’s Innovative Technology Exchange brings a great opportunity for TFX to demonstrate how they can help enhance care.

About Arrow VPS Rhythm DLX Device

Teleflex’s next-generation VPS Rhythm DLX Device provides real-time catheter tip location information by using the patient’s cardiac electrical activity. The device is also available with an optional integrated ultrasound, featuring a Catheter-to-Vessel ratio tool that promotes standardization in vessel measurement.

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This device works in concert with the Arrow PICC preloaded with the NaviCurve Stylet, providing innovative tip navigation/location technologies. These tools are engineered to work together to give Vascular Access Specialists more efficient and predictable PICC placement. The VPS Rhythm DLX Device eliminates the need for a confirmatory x-ray, helping the clinician seamlessly move from ultrasound vessel assessment through PICC navigation to final tip confirmation in the lower third of the superior vena cava (SVC).

Due to the variability of patient vasculature, all PICCs can occasionally have difficulty advancing into the SVC on the first attempt. This led to the design of the NaviCurve Stylet with an anatomical curve and flexible tip that self-orients to patient anatomy for enhanced PICC advancement into the SVC for successful insertion.

News in Detail

The annual Innovative Technology Exchange is part of Vizient’s Innovative Technology Program that includes product reviews of supplier-submitted technologies by provider-led councils and task forces. Since 2003, Vizient has reviewed over 1,600 product submissions as part of its Innovative Technology Program.

The annual Innovative Technology Exchange offers selected suppliers the unique opportunity to demonstrate their product or service to supply chain and clinical leaders from Vizient’s provider customers and subject matter experts who serve on their supply councils. Each product or service will display how it improves clinical outcomes, enhances safety or drives incremental improvements to healthcare delivery or business models.

Industry Prospects

Per a research report, the global vascular access device market is expected to witness a CAGR of nearly 6.5% through the 2022-2027 period.

Strong Prospect in Vascular Business

Teleflex’s Vascular Access product category offers devices that facilitate a variety of critical care therapies and other applications, particularly with a focus on helping reduce vascular-related complications. The launch of the new Arrow VPS Rhythm DLX navigation device and the Arrow PICC pre-loaded with the NaviCurve Stylet in the second quarter of 2023, generated positive customer response.

In the long term, the company remains positioned for dependable growth with category leadership in Central Venous Catheters and midlines, anticipated share gains with the novel coated PICC portfolio and new product introductions. In the last month, Teleflex announced the release of the Arrow ErgoPack Complete Kits with Hemodialysis and Large Bore catheters in the United States. This update is intended to streamline insertion workflow for clinicians and provide more options to suit their needs.

Price Performance

In the past six months, TFX shares have decreased 10% compared with the industry’s decline of 5.6%.

Zacks Rank and Key Picks

Teleflex currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Haemonetics’stock has gained 15.2% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.

HAE’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.

Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have gained 166.1% in the past year against the industry’s decline of 5.3%.

QTRX’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.

Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have gained 21.5% in the past year against the industry’s fall of 5.1%.

SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.

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