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According to Needham, their checks indicate that urologists are reducing their use of UroLift due to its retreatment rates, reimbursement cuts, and increasing use of competing procedures. This is also supported by their Google Trends data analysis, which indicates decreasing search interest in UroLift.
Given this, the firm believes that Street estimates for UroLift are overly optimistic. Moreover, the company’s Manta large-bore closure device, another important growth driver, may face competition in the U.S. as soon as 2024.
According to the firm, Street revenue and EPS estimates are likely too high and Teleflex may need to further reduce its long-term targets.
