Integer (NYSE:ITGR) Releases FY 2024 Earnings Guidance

Integer (NYSE:ITGR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.240-5.430 for the period, compared to the consensus estimate of 5.300. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Integer also updated its FY24 guidance to $5.24-5.43 EPS.

Integer Price Performance

ITGR traded up $0.31 during midday trading on Thursday, hitting $126.84. The company had a trading volume of 524,924 shares, compared to its average volume of 312,988. Integer has a twelve month low of $69.40 and a twelve month high of $133.53. The firm’s 50-day simple moving average is $127.37 and its 200-day simple moving average is $120.86. The company has a market capitalization of $4.25 billion, a PE ratio of 43.86, a P/E/G ratio of 1.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.96 and a current ratio of 3.29.

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, beating analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $431.42 million during the quarter, compared to analyst estimates of $440.59 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. Integer’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. Equities research analysts predict that Integer will post 5.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Benchmark lifted their price objective on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America boosted 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. KeyCorp raised their price objective on shares of Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial upped their target price on shares of Integer from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup lifted their price objective on Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.14.

Insider Transactions at Integer

In other Integer news, Director Jean M. Hobby sold 11,960 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 2,280 shares of the company’s stock, valued at approximately $272,824.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.