Integer (NYSE:ITGR) Issues FY 2024 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.240-5.430 for the period, compared to the consensus EPS estimate of 5.300. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Integer also updated its FY24 guidance to $5.24-5.43 EPS.

Integer Stock Up 0.2 %

Shares of NYSE:ITGR traded up $0.31 on Thursday, reaching $126.84. The company had a trading volume of 524,924 shares, compared to its average volume of 312,988. The stock has a market capitalization of $4.25 billion, a P/E ratio of 43.86, a P/E/G ratio of 1.86 and a beta of 1.08. The stock has a 50-day moving average price of $127.37 and a 200 day moving average price of $120.86. Integer has a twelve month low of $69.40 and a twelve month high of $133.53. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.73.

Integer (NYSE:ITGR) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Integer had a return on equity of 11.48% and a net margin of 6.31%. The firm had revenue of $431.42 million during the quarter, compared to analysts’ expectations of $440.59 million. During the same quarter in the prior year, the business earned $1.27 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Integer will post 5.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Oppenheimer started coverage on Integer in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 price target on the stock. Bank of America upped their price target on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Benchmark raised their price objective on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial upped their target price on shares of Integer from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, KeyCorp raised their price target on shares of Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Insider Activity

In related news, Director Jean M. Hobby sold 11,960 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total value of $1,431,133.60. Following the completion of the transaction, the director now owns 2,280 shares of the company’s stock, valued at $272,824.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

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.