Integer (NYSE:ITGR) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Integer (NYSE:ITGR) released its earnings results on Thursday. The medical equipment provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.24 by $0.06, Briefing.com reports. The company had revenue of $436.20 million during the quarter, compared to analysts’ expectations of $437.00 million. Integer had a net margin of 6.01% and a return on equity of 11.25%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. 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 NYSE:ITGR traded up $1.22 during midday trading on Friday, reaching $116.90. The company had a trading volume of 460,076 shares, compared to its average volume of 330,642. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.32 and a quick ratio of 2.01. The stock’s fifty day moving average price is $119.11 and its 200-day moving average price is $113.04. The stock has a market capitalization of $3.92 billion, a P/E ratio of 40.42, a PEG ratio of 1.84 and a beta of 1.11. Integer has a one year low of $69.40 and a one year high of $130.15.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ITGR shares. Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Integer in a report on Friday, May 10th. Truist Financial began coverage on shares of Integer in a research report on Wednesday, May 15th. They set a “buy” rating and a $137.00 price target on the stock. KeyCorp lifted their price objective on shares of Integer from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Citigroup lifted their price objective on shares of Integer from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Finally, Bank of America upgraded shares of Integer from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $135.00 in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.88.

Insider Buying and Selling

In other Integer news, SVP Andrew Senn sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.14, for a total transaction of $565,700.00. Following the completion of the sale, the senior vice president now owns 4,658 shares in the company, valued at $527,006.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Integer news, SVP Andrew Senn sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.14, for a total transaction of $565,700.00. Following the completion of the sale, the senior vice president now owns 4,658 shares in the company, valued at $527,006.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Tommy P. Thomas sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $114.00, for a total transaction of $171,000.00. Following the sale, the vice president now owns 2,813 shares of the company’s stock, valued at approximately $320,682. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,936 shares of company stock worth $2,130,937. 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.