Integer (NYSE:ITGR) Issues FY24 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $5.07-5.49 for the period, compared to the consensus EPS estimate of $5.29. The company issued revenue guidance of 1.735-1.770 billion, compared to the consensus revenue estimate of $1.76 billion. Integer also updated its FY 2024 guidance to 5.070-5.490 EPS.

Integer Stock Up 1.0 %

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

Integer (NYSE:ITGR) last posted its earnings results on Thursday, July 25th. The medical equipment provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $436.20 million for the quarter, compared to analysts’ expectations of $437.00 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. As a group, equities analysts forecast that Integer will post 5.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITGR. 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. Bank of America upgraded shares of Integer from a neutral rating to a buy rating and boosted their target price for the company from $105.00 to $135.00 in a research note on Monday, April 15th. Truist Financial started coverage on shares of Integer in a research note on Wednesday, May 15th. They set a buy rating and a $137.00 target price for the company. Benchmark reiterated a buy rating and set a $130.00 target price on shares of Integer in a research note on Friday, May 10th. Finally, Oppenheimer started coverage on shares of Integer in a research note on Tuesday, July 16th. They set an outperform rating and a $135.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $128.88.

Insider Transactions at Integer

In other 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 $592,805.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 $592,805.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Tommy P. Thomas sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $114.00, for a total transaction of $171,000.00. Following the completion of the sale, the vice president now directly 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.