Integer (NYSE:ITGR) Releases FY 2024 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.070-5.490 for the period, compared to the consensus estimate of 5.290. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Integer also updated its FY24 guidance to $5.07-5.49 EPS.

Integer Price Performance

NYSE:ITGR traded down $8.87 during mid-day trading on Thursday, hitting $115.68. 1,090,660 shares of the stock traded hands, compared to its average volume of 329,731. The business’s 50-day moving average price is $119.11 and its 200 day moving average price is $113.04. The company has a market cap of $3.88 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Integer has a 12-month low of $69.40 and a 12-month high of $130.15. The company has a quick ratio of 2.01, a current ratio of 3.32 and a debt-to-equity ratio of 0.76.

Integer (NYSE:ITGR) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Integer had a return on equity of 11.25% and a net margin of 6.01%. The business had revenue of $414.80 million for the quarter, compared to analysts’ expectations of $412.78 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Integer will post 5.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. KeyCorp lifted their price objective on Integer from $123.00 to $139.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Oppenheimer started coverage on Integer in a report on Tuesday, July 16th. They issued an outperform rating and a $135.00 price objective on the stock. Citigroup raised their target price on Integer from $118.00 to $124.00 and gave the stock a neutral rating in a research note on Wednesday, May 22nd. Bank of America raised Integer from a neutral rating to a buy rating and raised their target price for the stock from $105.00 to $135.00 in a research note on Monday, April 15th. Finally, Benchmark reissued a buy rating and issued a $130.00 target price on shares of Integer in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Integer currently has a consensus rating of Moderate Buy and an average target price of $128.88.

Insider Transactions at Integer

In related news, Director James F. Hinrichs sold 9,603 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $122.44, for a total value of $1,175,791.32. Following the completion of the transaction, the director now owns 7,424 shares of the company’s stock, valued at approximately $908,994.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Tommy P. Thomas sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $114.00, for a total value of $171,000.00. Following the completion of the transaction, the vice president now owns 2,813 shares of the company’s stock, valued at approximately $320,682. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James F. Hinrichs sold 9,603 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $122.44, for a total transaction of $1,175,791.32. Following the transaction, the director now directly owns 7,424 shares of the company’s stock, valued at approximately $908,994.56. The disclosure for this sale can be found here. Insiders sold 17,936 shares of company stock worth $2,130,937 in the last three months. Corporate insiders own 2.00% of the company’s stock.

About Integer

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, non-vascular, urology, and gastroenterology procedures.