Integer (NYSE:ITGR) Releases FY 2024 Earnings Guidance

Integer (NYSE:ITGR) updated its FY 2024 earnings guidance on Thursday. 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.

Analyst Ratings Changes

Several research firms have recently issued reports on ITGR. Citigroup lifted their price objective on shares of Integer from $118.00 to $124.00 and gave the stock a neutral rating in a research report on Wednesday, May 22nd. Truist Financial started 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 began coverage on shares of Integer in a research report on Tuesday, July 16th. They set an outperform rating and a $135.00 price objective for the company. KeyCorp boosted their target price on Integer from $123.00 to $139.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, Bank of America upgraded Integer from a neutral rating to a buy rating and boosted their price objective for the company from $105.00 to $135.00 in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $128.88.

Integer Price Performance

Shares of ITGR traded down $3.72 during mid-day trading on Thursday, reaching $120.83. 11,491 shares of the company’s stock were exchanged, compared to its average volume of 322,131. 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 has a 52-week low of $69.40 and a 52-week high of $130.15. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 1.86 and a beta of 1.11. The company has a 50-day simple moving average of $119.17 and a two-hundred day simple moving average of $113.03.

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

Insider Activity

In other news, EVP John A. Harris sold 312 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was 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 owns 1,157 shares in the company, valued at approximately $130,741. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP John A. Harris sold 312 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total value of $35,256.00. Following the completion of the sale, the executive vice president now owns 1,157 shares of the company’s stock, valued at $130,741. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew Senn sold 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $113.14, for a total value of $565,700.00. Following the completion of the transaction, the senior vice president now directly owns 4,658 shares of the company’s stock, valued at approximately $527,006.12. The disclosure for this sale can be found here. Insiders sold 17,936 shares of company stock valued at $2,130,937 in the last ninety days. Company 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.