Integer (NYSE:ITGR) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Integer (NYSE:ITGR) released its quarterly earnings results on Thursday. The medical equipment provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07, Briefing.com reports. The company had revenue of $431.42 million during the quarter, compared to analysts’ expectations of $440.59 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. Integer updated its FY24 guidance to $5.24-5.43 EPS and its FY 2024 guidance to 5.240-5.430 EPS.

Integer Price Performance

Shares of ITGR stock opened at $125.82 on Friday. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 1.86 and a beta of 1.08. The business’s fifty day moving average is $127.58 and its 200 day moving average is $120.98. Integer has a twelve month low of $73.40 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.

Insider Activity at Integer

In other news, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the transaction, the director now directly owns 2,280 shares of the company’s stock, valued at $272,824.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ITGR shares. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price target (up from $125.00) on shares of Integer in a research report on Friday. Bank of America upped their price objective on shares of Integer from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Benchmark upped their price objective on shares of Integer from $130.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup upped their price objective on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, Truist Financial decreased their price objective on shares of Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Integer has an average rating of “Moderate Buy” and an average target price of $139.75.

Integer Company Profile

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.