Teleflex Inc. Files 2023 Annual Report on Form 10-K

Ticker: TFX · Form: 10-K · Filed: Feb 23, 2024 · CIK: 96943

Teleflex Inc 10-K Filing Summary
FieldDetail
CompanyTeleflex Inc (TFX)
Form Type10-K
Filed DateFeb 23, 2024
Risk Levelmedium
Pages14
Reading Time17 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: 10-K, Annual Report, Teleflex Inc., Financials, Medical Devices

TL;DR

<b>Teleflex Inc. has filed its 2023 annual report detailing its financial performance and business operations.</b>

AI Summary

TELEFLEX INC (TFX) filed a Annual Report (10-K) with the SEC on February 23, 2024. Teleflex Inc. filed its 2023 Form 10-K on February 23, 2024. The report covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 550 E Swedesford Rd, Suite 400, Wayne, PA 19087. Teleflex Inc. is incorporated in Delaware. The SIC code for Teleflex Inc. is 3841 (Surgical & Medical Instruments & Apparatus).

Why It Matters

For investors and stakeholders tracking TELEFLEX INC, this filing contains several important signals. This filing provides a comprehensive overview of Teleflex's financial health and strategic direction for the past fiscal year, crucial for investors and analysts. The 10-K report contains detailed financial statements, risk factors, and management's discussion and analysis, offering insights into the company's performance and outlook.

Risk Assessment

Risk Level: medium — TELEFLEX INC shows moderate risk based on this filing. The company operates in the medical device industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code and the nature of a 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess Teleflex's performance and potential future challenges.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-02-23 — Filed As Of Date (Date the filing was submitted)
  • 0000096943-24-000036 — Accession Number (Unique identifier for the filing)
  • 3841 — SIC Code (Standard Industrial Classification for Surgical & Medical Instruments & Apparatus)

Key Players & Entities

  • TELEFLEX INC (company) — Filer name
  • 2023 (date) — Fiscal year end
  • 2024-02-23 (date) — Filing date
  • 550 E SWEDESFORD RD (address) — Business address
  • WAYNE (location) — Business address city
  • PA (location) — Business address state
  • 19087 (postal_code) — Business address zip
  • 3841 (industry_code) — Standard Industrial Classification

FAQ

When did TELEFLEX INC file this 10-K?

TELEFLEX INC filed this Annual Report (10-K) with the SEC on February 23, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by TELEFLEX INC (TFX).

Where can I read the original 10-K filing from TELEFLEX INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TELEFLEX INC.

What are the key takeaways from TELEFLEX INC's 10-K?

TELEFLEX INC filed this 10-K on February 23, 2024. Key takeaways: Teleflex Inc. filed its 2023 Form 10-K on February 23, 2024.. The report covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at 550 E Swedesford Rd, Suite 400, Wayne, PA 19087..

Is TELEFLEX INC a risky investment based on this filing?

Based on this 10-K, TELEFLEX INC presents a moderate-risk profile. The company operates in the medical device industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code and the nature of a 10-K filing.

What should investors do after reading TELEFLEX INC's 10-K?

Review the detailed financial statements and risk factors within the 10-K to assess Teleflex's performance and potential future challenges. The overall sentiment from this filing is neutral.

How does TELEFLEX INC compare to its industry peers?

Teleflex Inc. operates within the Surgical & Medical Instruments & Apparatus industry (SIC 3841).

Are there regulatory concerns for TELEFLEX INC?

Companies in the medical device sector are subject to stringent regulations from bodies like the FDA.

Industry Context

Teleflex Inc. operates within the Surgical & Medical Instruments & Apparatus industry (SIC 3841).

Regulatory Implications

Companies in the medical device sector are subject to stringent regulations from bodies like the FDA.

What Investors Should Do

  1. Analyze the consolidated financial statements for revenue, net income, and EPS trends.
  2. Review the 'Risk Factors' section for potential headwinds and challenges.
  3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for strategic insights.

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, providing the first comprehensive look at the company's performance for the fiscal year ending December 31, 2023.

Filing Stats: 4,319 words · 17 min read · ~14 pages · Grade level 17 · Accepted 2024-02-23 12:23:11

Key Financial Figures

  • $1.00 — ich registered Common Stock, par value $1.00 per share TFX New York Stock Exchange

Filing Documents

BUSINESS

BUSINESS 4 Item 1A .

RISK FACTORS

RISK FACTORS 14 Item 1B . UNRESOLVED STAFF COMMENTS 27 I tem 1C. CYBERSECURITY 28 Item 2 .

PROPERTIES

PROPERTIES 28 Item 3 .

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 29 Item 4 . MINE SAFETY DISCLOSURES 29 PART II Item 5 . MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 30 Item 6 . RESERVED 30 Item 7 .

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 30 Item 7A .

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 44 Item 8 .

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 45 Item 9 . CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 45 Item 9A .

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 45 Item 9B . OTHER INFORMATION 46 Item 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 46 PART III Item 10 . DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 47 Item 11 .

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 47 Item 12 .

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 47 Item 13 . CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 47 Item 14 . PRINCIPAL ACCOUNTING FEES AND SERVICES 47 PART IV Item 15 . EXHIBITS, FINANCIAL STATEMENT SCHEDULES 48 Item 16. FORM 10-K SUMMARY 50

SIGNATURES

SIGNATURES 51 2 Information Concerning Forward-Looking Statements All statements made in this Annual Report on Form 10-K, other than statements of historical fact, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "should," "guidance," "potential," "continue," "project," "forecast," "confident," "prospects" and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about our business and the industry and markets in which we operate. These statements are not guarantees of future performance and are subject to risks and uncertainties, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements due to a number of factors, including: changes in business relationships with and purchases by or from major customers or suppliers; delays or cancellations in shipments; demand for and market acceptance of new and existing products; the impact of inflation and disruptions in our global supply chain on us and our suppliers (particularly sole-source suppliers and providers of sterilization services), including fluctuations in the cost and availability of resins and other raw materials, as well as certain components, used in the production or sterilization of our products, transportation constraints and delays, product shortages, energy shortages or increased energy costs, labor shortages in the United States and elsewhere, and increased operating and labor costs; our inability to integrate acquired businesses into our operations, realize planned synergies and operate such businesses profitably in accordance with our expectations; our inability to effectively execute our restructuring programs; our inability to realize anticipated savings resulting

BUSINESS

ITEM 1. BUSINESS Teleflex Incorporated is referred to herein as "we," "us," "our," "Teleflex" and the "Company." THE COMPANY Teleflex is a global provider of medical technology products that enhance clinical benefits, improve patient and provider safety and reduce total procedural costs. We primarily design, develop, manufacture and supply single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications. We market and sell our products to hospitals and healthcare providers worldwide through a combination of our direct sales force and distributors. Because our products are used in numerous markets and for a variety of procedures, we are not dependent upon any one end-market or procedure. Our major manufacturing operations are located in the Czech Republic, Malaysia, Mexico and the United States (the "U.S."). We are focused on achieving consistent, sustainable and profitable growth and improving our financial performance by increasing our market share and improving our operating efficiencies through: development of new products and product line extensions; investment in new technologies and broadening the application of our existing technologies; expansion of the use of our products in existing markets and introduction of our products into new geographic markets; achievement of economies of scale as we continue to expand by utilizing our direct sales force and distribution network to sell new products, as well as by increasing efficiencies in our sales and marketing organizations, research and development activities and manufacturing and distribution facilities; and expansion of our product portfolio through select acquisitions, licensing arrangements and business partnerships that enhance, expand or expedite our development initiatives or our ability to increase our market share. Our research and development capabilities, commitment to engineering excellence and

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