The Limerick, Pa.-based medical device company said its "preliminary financial goals" for 2013 are for sales growth of 11%-13% and adjusted EPS of $4.70-$4.90.
Analysts on The Street are looking for adjusted EPS of $4.85.
Teleflex also said it still expects to post adjusted EPS of $4.35-$4.40 this year, on sales growth of 6%-7%.
"During 2013, we expect to build upon the strong medical device platform that we have created at Teleflex. We believe significant opportunities remain to increase our market share, as we deliver innovative products to more patients globally. We are confident that the execution of our strategy will result in above-market revenue growth rates, as well as, the expansion of gross and adjusted operating margins," chairman, president & CEO Benson Smith said in prepared remarks.
TFX shares closed up 0.1% yesterday at $69.51 per share.
NuVasive reaps $63M from NeuroVision escrow account
NuVasive Inc. (NSDQ:NUVA) said it’s regained some $62.5 million it set aside in an escrow account after it initially lost a trademark battle with NeuroVision that an appeals court later reversed.
Under Judge Manuel Real of the U.S. District Court for Central California, a jury in October 2010 found that NuVasive infringed the NeuroVision trademark with some of its neuromonitoring products. NuVasive appealed, arguing that Real "fundamentally misunderstood trademark law" and "exhibited hostility toward NuVasive’s counsel in front of the jury."
In June, a trio of judges at An appeals court in June expressed skepticism over the decision before vacating Real’s decision and sending the case back to the Central California district to be tried under a different judge.
Yesterday NuVasive said the $62.5 million it set aside after the initial verdict was released from an escrow account.
Misonix spikes Aesculap deal
Misonix (NSDQ:MSON) said it’s spiking its distribution deal with Aesculap for its BoneScalpel ultrasonic bone-cutting device, which Aesculap has been selling under a private label since January 2011, as MSON ramps up its own direct sales force.
Angel Medical grabs $4M on the way to $18M
Angel Medical Systems raised $3.8 million of a hoped-for $17.5 million for its AngelMed Guardian implant, designed to detect heart problems and alert patients to seek medical care.
Physio-Control landed the 2nd option year on a $43.0 million contract for defibrillators and related products. Ziehm also won a 2nd option year, this time for its $23.6 million deal for radiology systems and related items.
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