Yahoo Finance Teleflex (TFX) Shares Down on Respiratory Care Product Recall
Shares of Teleflex Incorporated TFX dropped 0.58% to close at $332.80 yesterday, after the news of the global recall of certain lots of Hudson RCI Sheridan Endotracheal Tubes surfaced. The recalled products had been designed for oral or nasal intubation and were supposed to enable efficient airway management. These recalled products were distributed from October 2016 to May 2019.
More About the Product Recall
This voluntary recall is due to reported complaints (<0.0025% of all in scope distributed product) about an increased occurrence of specific batches of the 15 mm Sheridan connector becoming disconnected from the endotracheal tube (ETT). The immediate aftermath of this hazard for patients is disconnection from the breathing circuit, which may lead to insufficient oxygenation, thereby necessitating medical intervention.
Four cases of death and additional cases of serious injury have been reported, where ETT disconnection may have been a factor. The FDA has classified the recall of Hudson RCI Sheridan Endotracheal Tubes as a Class I recall.
Teleflex issued a statement saying consumers who own the tampered product should immediately discontinue use and return all affected products to the company or its distributor. The company has also requested consumers, experiencing any negative effects or quality issues with the use of this product, to report to the FDA’s MedWatch Adverse Event Reporting program either online, through regular mail or fax.
Price Performance
In the past year, the stock has improved 20.7% compared with the industry’s growth of 3%.
Zacks Rank and Key Picks
Teleflex currently carries a Zacks Rank # 3 (Hold).
Some other better-ranked stocks in the broader medical space are Cerner Corporation CERN, Penumbra PEN and Bruker Corporation BRKR. While the first two currently carry a Zacks Rank #2 (Buy), Bruker sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cerner’s long-term earnings growth rate is expected to be 13.5%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
Bruker’s long-term earnings growth rate is estimated at 11.7%.
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