Integer (NYSE:ITGR) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Integer (NYSE:ITGR) released its quarterly earnings results on Thursday. The medical equipment provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.24 by $0.06, Briefing.com reports. Integer had a return on equity of 11.25% and a net margin of 6.01%. The firm had revenue of $436.20 million for the quarter, compared to analyst estimates of $437.00 million. During the same period in the previous year, the company posted $1.14 EPS. Integer’s revenue for the quarter was up 9.0% on a year-over-year basis. Integer updated its FY24 guidance to $5.07-5.49 EPS and its FY 2024 guidance to 5.070-5.490 EPS.

Integer Stock Performance

Integer stock traded up $1.22 during trading hours on Friday, reaching $116.90. 460,076 shares of the company were exchanged, compared to its average volume of 330,642. Integer has a 12 month low of $69.40 and a 12 month high of $130.15. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 1.84 and a beta of 1.11. The company has a current ratio of 3.32, a quick ratio of 2.01 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $119.11 and a 200 day moving average of $113.04.

Insider Transactions at Integer

In related news, EVP John A. Harris sold 312 shares of Integer stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total value of $35,256.00. Following the transaction, the executive vice president now owns 1,157 shares in the company, valued at approximately $130,741. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James F. Hinrichs sold 9,603 shares of the business’s stock in a transaction on 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 owns 7,424 shares of the company’s stock, valued at $908,994.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Harris sold 312 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $35,256.00. Following the completion of the sale, the executive vice president now directly owns 1,157 shares of the company’s stock, valued at $130,741. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,936 shares of company stock worth $2,130,937. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

ITGR has been the subject of several analyst reports. Bank of America upgraded shares of Integer from a “neutral” rating to a “buy” rating and upped their target price for the company from $105.00 to $135.00 in a research note on Monday, April 15th. Citigroup upped their price objective on shares of Integer from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Truist Financial assumed coverage on Integer in a research report on Wednesday, May 15th. They set a “buy” rating and a $137.00 target price on the stock. Oppenheimer started coverage on Integer in a report on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 price target for the company. Finally, Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Integer in a report 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.88.

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.