Integer (NYSE:ITGR) Issues Earnings Results, Beats Estimates By $0.06 EPS

Integer (NYSE:ITGR) announced its quarterly earnings data on Thursday. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $437.00 million. During the same period last year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Integer updated its FY24 guidance to $5.07-5.49 EPS and its FY 2024 guidance to 5.070-5.490 EPS.

Integer Stock Up 1.1 %

Shares of ITGR traded up $1.22 on Friday, hitting $116.90. 460,076 shares of the stock traded hands, compared to its average volume of 330,642. The company has a market capitalization of $3.92 billion, a PE ratio of 40.42, a P/E/G ratio of 1.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.01 and a current ratio of 3.32. The business has a 50 day simple moving average of $119.11 and a 200 day simple moving average of $113.04. Integer has a one year low of $69.40 and a one year high of $130.15.

Insiders Place Their Bets

In other Integer news, EVP John A. Harris sold 1,521 shares of Integer stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total value of $183,189.24. Following the completion of the sale, the executive vice president now owns 4,922 shares of the company’s stock, valued at approximately $592,805.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director James F. Hinrichs sold 9,603 shares of the firm’s stock in a transaction that occurred 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 directly owns 7,424 shares of the company’s stock, valued at $908,994.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Harris sold 1,521 shares of Integer stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total transaction of $183,189.24. Following the transaction, the executive vice president now directly owns 4,922 shares in the company, valued at $592,805.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,936 shares of company stock valued at $2,130,937. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Oppenheimer assumed coverage on Integer in a research note on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective on the stock. Citigroup raised their price objective on Integer from $118.00 to $124.00 and gave the company 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 price objective for the company from $105.00 to $135.00 in a research note on Monday, April 15th. KeyCorp raised their target price on Integer from $123.00 to $139.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Truist Financial started coverage on Integer in a research note on Wednesday, May 15th. They issued a “buy” rating and a $137.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.88.

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.