Integer (NYSE:ITGR) Announces 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 return on equity of 11.48% and a net margin of 6.31%. The company had revenue of $431.42 million for the quarter, compared to analyst estimates of $440.59 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. Integer’s revenue was up 8.7% compared to the same quarter last year. Integer updated its FY24 guidance to $5.24-5.43 EPS and its FY 2024 guidance to 5.240-5.430 EPS.

Integer Trading Up 1.0 %

Shares of ITGR traded up $1.24 during mid-day trading on Friday, hitting $128.00. The company had a trading volume of 28,045 shares, compared to its average volume of 311,568. Integer has a 1-year low of $73.40 and a 1-year high of $133.53. The business’s 50-day simple moving average is $127.37 and its 200-day simple moving average is $120.86. The stock has a market cap of $4.29 billion, a PE ratio of 44.29, a P/E/G ratio of 1.86 and a beta of 1.08. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling

In other Integer news, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total value of $1,431,133.60. Following the transaction, the director now owns 2,280 shares in the company, valued at $272,824.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ITGR has been the subject of a number of research reports. Benchmark lifted their target price on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup increased their target price on Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Oppenheimer started coverage on Integer in a report on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 price target for the company. Truist Financial dropped their price objective on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America raised their price target on shares of Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.71.

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.