Integer (NYSE:ITGR) Updates FY24 Earnings Guidance

Integer (NYSE:ITGR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.24-5.43 for the period, compared to the consensus estimate of $5.30. The company issued revenue guidance of $1.707-1.727 billion, compared to the consensus revenue estimate of $1.74 billion. Integer also updated its FY 2024 guidance to 5.240-5.430 EPS.

Integer Stock Down 0.8 %

Shares of NYSE:ITGR traded down $0.99 during trading on Friday, hitting $125.77. The company’s stock had a trading volume of 187,373 shares, compared to its average volume of 312,382. Integer has a fifty-two week low of $73.40 and a fifty-two week high of $133.53. The business has a 50 day moving average price of $127.58 and a two-hundred day moving average price of $120.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.96 and a current ratio of 3.29. The company has a market capitalization of $4.21 billion, a PE ratio of 43.54, a P/E/G ratio of 1.86 and a beta of 1.08.

Integer (NYSE:ITGR) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $431.42 million for the quarter, compared to the consensus estimate of $440.59 million. Integer had a return on equity of 11.48% and a net margin of 6.31%. Integer’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. As a group, research analysts expect that Integer will post 5.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on ITGR. Truist Financial lowered their price target on shares of Integer from $150.00 to $147.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler restated an “overweight” rating and issued a $140.00 price target (up from $125.00) on shares of Integer in a research note on Friday. KeyCorp upped their price objective on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Oppenheimer began coverage on Integer in a report on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 price objective on the stock. Finally, Bank of America boosted their target price on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $139.75.

Insider Activity at Integer

In other Integer news, Director Jean M. Hobby sold 11,960 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total value of $1,431,133.60. Following the completion of the sale, the director now owns 2,280 shares in the company, valued at approximately $272,824.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.