Integer (NYSE:ITGR) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Integer (NYSE:ITGR) posted its earnings results on Thursday. The medical equipment provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07, Briefing.com reports. Integer had a net margin of 6.31% and a return on equity of 11.48%. The company had revenue of $431.42 million during the quarter, compared to analysts’ expectations of $440.59 million. During the same period last year, the company posted $1.27 earnings per share. Integer’s quarterly revenue was up 8.7% on a year-over-year basis. Integer updated its FY24 guidance to $5.24-5.43 EPS and its FY 2024 guidance to 5.240-5.430 EPS.

Integer Stock Down 0.8 %

Shares of NYSE:ITGR opened at $125.77 on Friday. The business has a 50 day simple moving average of $127.58 and a two-hundred day simple moving average of $120.98. Integer has a 1 year low of $73.40 and a 1 year high of $133.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.29 and a quick ratio of 1.96. The firm has a market capitalization of $4.22 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08.

Insiders Place Their Bets

In other news, Director Jean M. Hobby sold 11,960 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the transaction, the director now directly owns 2,280 shares of the company’s stock, valued at approximately $272,824.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ITGR shares. Oppenheimer initiated coverage on Integer in a research note on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price target for the company. Truist Financial lowered their target price on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research report on Friday. Benchmark boosted their price target on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective (up from $125.00) on shares of Integer in a research note on Friday. Finally, Bank of America upped their target price on shares of Integer from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $139.75.

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.