Integer (NYSE:ITGR) Releases FY24 Earnings Guidance

Integer (NYSE:ITGR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.07-5.49 for the period, compared to the consensus estimate of $5.29. The company issued revenue guidance of 1.735-1.770 billion, compared to the consensus revenue estimate of $1.76 billion. Integer also updated its FY 2024 guidance to 5.070-5.490 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ITGR. Oppenheimer began coverage on shares of Integer in a report on Tuesday, July 16th. They issued an outperform rating and a $135.00 target price on the stock. Benchmark restated a buy rating and set a $130.00 price objective on shares of Integer in a report on Friday, May 10th. Bank of America upgraded shares of Integer from a neutral rating to a buy rating and raised their price objective for the stock from $105.00 to $135.00 in a report on Monday, April 15th. Truist Financial initiated coverage on shares of Integer in a report on Wednesday, May 15th. They set a buy rating and a $137.00 price objective on the stock. Finally, KeyCorp raised their price objective on shares of Integer from $123.00 to $139.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $128.88.

Integer Stock Performance

Shares of NYSE ITGR traded up $1.13 during mid-day trading on Friday, reaching $116.81. 460,076 shares of the company were exchanged, compared to its average volume of 392,735. The company’s 50-day simple moving average is $119.03 and its 200-day simple moving average is $113.17. The company has a quick ratio of 2.01, a current ratio of 3.29 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3.91 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.71 and a beta of 1.11. Integer has a twelve month low of $69.40 and a twelve month high of $130.15.

Integer (NYSE:ITGR) last posted its earnings results on Thursday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The company had revenue of $436.20 million during the quarter, compared to analysts’ expectations of $437.00 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. Integer’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. As a group, research analysts predict that Integer will post 5.27 earnings per share for the current year.

Insider Transactions at Integer

In other Integer news, EVP John A. Harris sold 1,521 shares of Integer stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total value of $183,189.24. Following the completion of the sale, the executive vice president now owns 4,922 shares in the company, valued at approximately $592,805.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Integer news, EVP John A. Harris sold 1,521 shares of Integer stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total value of $183,189.24. Following the completion of the sale, the executive vice president now owns 4,922 shares in the company, valued at approximately $592,805.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tommy P. Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $114.00, for a total transaction of $171,000.00. Following the completion of the transaction, the vice president now owns 2,813 shares of the company’s stock, valued at $320,682. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,936 shares of company stock worth $2,130,937. 2.00% of the stock is owned by insiders.

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.