Teleflex on Dec. 28 announced the completion of the acquisition of hemostatic product manufacturer, Z-Medica, for $500 million in cash, and an earnout payment of up to $25 million upon the accomplishment of certain milestones. Hemostasis refers to the process that helps to prevent and stop bleeding.
Teleflex (TFX) also acquired certain tax attributes worth $40 million towards future tax benefits. The global provider of medical technologies intends to fund the acquisition through borrowings under its revolving credit facility.
The acquisition has an estimated revenue and adjusted EPS generation potential of $60-$70 million and $0.07-$0.15, respectively for FY21. The company expects a high-single digit revenue growth and further accretion to adjusted EPS beyond FY21.
Earlier this month, SVB Leerink analyst Richard Newitter raised the price target on TFX stock from $415 to $450 and reiterated a Buy rating. The new price target implies upside potential of close to 11%.
Recent meetings with the company's management reinforced Newitter’s bullish view that Teleflex remained one of the more attractive revenue growth and margin expansion stories in mid/large-cap MedTech, with highly visibility to improving top/bottom line growth momentum through 2022-plus. (See TFX stock analysis on TipRanks)
From the rest of the Street, the stock scores an analyst consensus of a Strong Buy based on 8 unanimous Buys. The average analyst price target of $420.38 implies upside potential of 3.4% to current levels. Shares have gained 8% on a year-to-date basis.
Caesars Entertainment announced that it has received clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) to acquire UK-based gambling group William Hill.
Caesars (CZR) said that the deal has also “received approvals from the Mississippi Gaming Commission on November 19, 2020, and the West Virginia Lottery on December 16, 2020.” However, the largest casino-entertainment company in the US still requires regulatory approvals from other local agencies.
Caesars had announced the acquisition of William Hill (WMH) in a transaction worth £2.9 billion ($3.7 billion) in October. The deal is part of the company's plan to expand its presence in the fast-growing US sports-betting market. Caesars continues to expect to close the deal in March 2021.
Last week, Caesars announced the divestment of its Southern Indiana operation to Eastern Band of Cherokee Indians (EBCI) for $250 million. (See CZR stock analysis on TipRanks)
On Dec. 28, Wolfe Research analyst Jared Shojaian maintained his Buy rating and a price target of $90 (22.2% upside potential) on the stock, following the Southern Indiana deal. Shojaian said, Caesars is receiving 6.4x the $39M of EBITDA, which is "ok" to him. He added, “CZR also entered into an agreement with EBCI to license the Caesars brand and loyalty program, which we roughly estimate could give CZR an extra $5M-$10M of annual EBITDA.”
Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 8 Buys and 3 Holds. The average price target stands at $80.91 and implies upside potential of about 9.9% to current levels. Shares have gained 23.5% year-to-date.
Littelfuse stock (NASDAQ: LFUS) is up almost 30% since the beginning of this year, and at the current price around $250 per share, we believe that Littelfuse stock has over 20% potential downside.
After more than a 100% rally since the March 23 lows of this year, at the current price of $44 per share, we believe Essent Group Stock (NYSE: ESNT) can still grow. Essent Group, which offers mortgage insurance, reinsurance, and risk management products to mortgage lenders
The shares of Penn National Gaming (NASDAQ: PENN) have more than doubled since February highs primarily due to the strong success of its Barstool Sportsbook App, which has become the most downloaded sports betting application in the country. In October, the application received
Up more than 3x since March, we believe First Solar stock (NASDAQ: FSLR) could see significant downside. First Solar stock is up 72% so far this year. It traded at $58 in February 2020 – just before the outbreak of coronavirus – and is currently 65% above that level
Gap Inc. stock (NYSE: GPS), a specialty retailer selling casual apparel, accessories, and personal care products for men, women, and children under the Gap, Old Navy, Banana Republic brands, became vulnerable during the pandemic due to its nonessential product assortment. While
Many emerging markets emulated their developed peers this year with bond-buying programmes that successfully tamped down borrowing costs, yet unease is also stirring about the possible hit to hard-won monetary policy independence.
Investors are weighing how big to go on U.S. technology stocks in the coming year, as pricier valuations, regulatory risks and a revival of the market’s beaten-down names threaten to dim their allure.
China's factory activity likely maintained a solid pace of expansion in December, a Reuters poll showed on Tuesday, as the world's second-largest economy steadily recovers from the coronavirus crisis.
South Korea's export recovery likely accelerated in December thanks to strong chip demand, though the coronavirus pandemic continued to add pressure on domestic consumption, a Reuters poll showed on Tuesday.
Three out of four major market indexes — the Dow, the Nasdaq and the S&P 500 — all closed at new record highs this Monday, perhaps on renewed exuberance regarding the presidential signage of a new relief bill for American pandemic sufferers. Both the Dow and Nasdaq rose b
Do You Have These Top Retail Stocks On Your 2021 Watchlist? Retail stocks are in for one last ride before the year ends. Despite losing their valuations as the pandemic wreaked havoc earlier this year, top retail stocks have since climbed their way back. By looking at the S&P
Should Investors Be Watching These Top Software Stocks This Week? 3 Names To KnowIt has been a fantastic year for software stocks in the stock market so far. Understandably, this is because of the surging demand for software services in 2020 that was caused by the coronavirus pan
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which m
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Plug Power Inc (Symbol: PLUG), where a total volume of 139,548 contracts has been traded thus far today, a contract volume which is representative of approximat
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Kratos Defense & Security Solutions, Inc. (Symbol: KTOS), where a total of 4,129 contracts have traded so far, representing approximately 412,900 underlying shares.
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Camping World Holdings Inc (Symbol: CWH), where a total volume of 7,913 contracts has been traded thus far today, a contract volume which is representative of a
Checked
29 minutes 8 seconds ago
This feed is responsible for generating the rss feed related to the topic Stocks