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.

Analysts Set New Price Targets

ITGR has been the topic of several recent research reports. Benchmark reaffirmed a buy rating and issued a $130.00 price target on shares of Integer in a report on Friday, May 10th. Oppenheimer initiated coverage on shares of Integer in a report on Tuesday, July 16th. They issued an outperform rating and a $135.00 price target on the stock. Citigroup upped their price target on shares of Integer from $118.00 to $124.00 and gave the company a neutral rating in a report on Wednesday, May 22nd. Truist Financial initiated coverage on shares of Integer in a report on Wednesday, May 15th. They issued a buy rating and a $137.00 price target on the stock. Finally, KeyCorp upped their price target on shares of Integer from $123.00 to $139.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $128.88.

Integer Price Performance

Shares of Integer stock traded up $1.13 during trading hours on Friday, reaching $116.81. The stock had a trading volume of 460,076 shares, compared to its average volume of 392,735. The stock’s 50 day moving average is $119.03 and its 200 day moving average is $113.17. The firm has a market capitalization of $3.91 billion, a PE ratio of 40.45, a PEG ratio of 1.71 and a beta of 1.11. Integer has a twelve month low of $69.40 and a twelve month high of $130.15. The company has a current ratio of 3.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.73.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.06. Integer had a net margin of 6.31% and a return on equity of 11.48%. The firm had revenue of $436.20 million during the quarter, compared to the consensus estimate of $437.00 million. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts expect that Integer will post 5.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John A. Harris sold 1,521 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total transaction of $183,189.24. Following the completion of the transaction, the executive vice president now owns 4,922 shares in the company, valued at approximately $592,805.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP John A. Harris sold 312 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 1,157 shares of the company’s stock, valued at approximately $130,741. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John A. Harris sold 1,521 shares of the 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 completion of the sale, the executive vice president now directly owns 4,922 shares of the company’s stock, valued at approximately $592,805.68. The disclosure for this sale can be found here. Insiders sold a total of 17,936 shares of company stock worth $2,130,937 in the last 90 days. Insiders own 2.00% of the company’s stock.

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.