Teleflex Inc.’s stock is currently trading at a loss.
TFX,
minus 9.90%
In afternoon trade on Thursday, it fell 10.9 percent to an 8-month low, outpacing the S&P 500.
SPX,
minus 0.55 percent
decliners, putting them on course for their largest one-day percentage drop since March 2020. Teleflex is a medical technology firm that makes urology, cardiac and respiratory care, and emergency medicine products. The company’s UroLift System is a minimally invasive treatment for lower urinary tract problems caused by benign prostatic hyperplasia, which the company recently stated was one of its “primary growth drivers.” After the COVID-19 epidemic weighed disproportionately on non-COVID-related surgeries, Chief Financial Officer Thomas Powell remarked at the UBS Global Healthcare Conference in May that he expected UroLift to demonstrate sustained recovery. Meanwhile, the new proposed 2022 physician fee schedule from the Centers for Medicare & Medicaid Services estimates a 1% decrease in clinical labor cost for urology. A request for comment from the corporation was not immediately returned. Year to year, the stock has lost 9.7%, while the SPDR Health Care Select Sector ETF has lost 8%.
XLV,
minus 0.26 percent
has increased by 13.1 percent, while the S&P 500 has increased by 15.7 percent./n
