Integer (NYSE:ITGR) Updates FY 2024 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.070-5.490 for the period, compared to the consensus earnings per share estimate of 5.290. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Integer also updated its FY24 guidance to $5.07-5.49 EPS.

Integer Stock Performance

Shares of NYSE:ITGR traded down $8.87 during midday trading on Thursday, hitting $115.68. The stock had a trading volume of 1,090,660 shares, compared to its average volume of 329,731. The company has a market capitalization of $3.88 billion, a PE ratio of 40.03, a P/E/G ratio of 1.86 and a beta of 1.11. The stock has a 50 day moving average price of $119.11 and a two-hundred day moving average price of $113.04. The company has a current ratio of 3.32, a quick ratio of 2.01 and a debt-to-equity ratio of 0.76. Integer has a 1 year low of $69.40 and a 1 year high of $130.15.

Integer (NYSE:ITGR) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Integer had a net margin of 6.01% and a return on equity of 11.25%. The firm had revenue of $414.80 million during the quarter, compared to analysts’ expectations of $412.78 million. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Integer will post 5.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Benchmark restated a buy rating and set a $130.00 target price on shares of Integer in a research report on Friday, May 10th. Bank of America upgraded shares of Integer from a neutral rating to a buy rating and lifted their target price for the stock from $105.00 to $135.00 in a research report on Monday, April 15th. Citigroup lifted their target price on shares of Integer from $118.00 to $124.00 and gave the stock a neutral rating in a research report on Wednesday, May 22nd. Oppenheimer assumed coverage on shares of Integer in a research report on Tuesday, July 16th. They set an outperform rating and a $135.00 target price for the company. Finally, Truist Financial started coverage on shares of Integer in a research report on Wednesday, May 15th. They set a buy rating and a $137.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Integer presently has a consensus rating of Moderate Buy and a consensus target price of $128.88.

Insider Transactions at Integer

In related news, SVP Andrew Senn sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.14, for a total value of $565,700.00. Following the completion of the sale, the senior vice president now directly owns 4,658 shares in the company, valued at $527,006.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Andrew Senn sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.14, for a total value of $565,700.00. Following the completion of the sale, the senior vice president now directly owns 4,658 shares in the company, valued at $527,006.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John A. Harris sold 1,521 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total transaction of $183,189.24. Following the completion of the sale, the executive vice president now owns 4,922 shares of the company’s stock, valued at $592,805.68. The disclosure for this sale can be found here. Insiders sold a total of 17,936 shares of company stock worth $2,130,937 over the last ninety days. 2.00% of the stock is currently owned by corporate 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.