Integer (NYSE:ITGR) Issues FY24 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.24-5.43 for the period, compared to the consensus earnings per share 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 Performance

NYSE:ITGR traded up $0.31 during trading hours on Thursday, hitting $126.84. 524,924 shares of the company were exchanged, compared to its average volume of 312,988. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.29 and a quick ratio of 1.96. Integer has a 52-week low of $69.40 and a 52-week high of $133.53. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 43.86, a PEG ratio of 1.86 and a beta of 1.08. The company’s 50 day moving average price is $127.37 and its 200-day moving average price is $120.86.

Integer (NYSE:ITGR) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm 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%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. As a group, research analysts forecast that Integer will post 5.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ITGR has been the topic of a number of recent research reports. Benchmark upped their target price on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial increased their price objective on shares of Integer from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup boosted their target price on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Oppenheimer assumed coverage on Integer in a research report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price target on the stock. Finally, Bank of America boosted their price objective on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Integer currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

Insiders Place Their Bets

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