Integer (NYSE:ITGR) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Integer (NYSE:ITGR) posted its earnings results on Thursday. The medical equipment provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06, Briefing.com reports. Integer had a return on equity of 11.48% and a net margin of 6.31%. The firm had revenue of $436.20 million for the quarter, compared to analysts’ expectations of $437.00 million. During the same period last year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Integer updated its FY24 guidance to $5.07-5.49 EPS and its FY 2024 guidance to 5.070-5.490 EPS.

Integer Stock Up 1.0 %

Shares of Integer stock traded up $1.13 during trading hours on Friday, reaching $116.81. 460,076 shares of the company were exchanged, compared to its average volume of 392,735. The firm has a market cap of $3.91 billion, a PE ratio of 40.45, a PEG ratio of 1.71 and a beta of 1.11. The stock’s fifty day moving average is $119.03 and its 200 day moving average is $113.17. Integer has a 1 year low of $69.40 and a 1 year high of $130.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.01 and a current ratio of 3.29.

Insider Buying and Selling

In related news, Director James F. Hinrichs sold 9,603 shares of Integer stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $122.44, for a total value of $1,175,791.32. Following the completion of the transaction, the director now owns 7,424 shares in the company, valued at $908,994.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Integer news, Director James F. Hinrichs sold 9,603 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $122.44, for a total value of $1,175,791.32. Following the sale, the director now directly owns 7,424 shares in the company, valued at $908,994.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John A. Harris sold 312 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total value of $35,256.00. Following the transaction, the executive vice president now directly owns 1,157 shares of the company’s stock, valued at $130,741. The disclosure for this sale can be found here. Insiders sold 17,936 shares of company stock valued at $2,130,937 in the last three months. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITGR. Bank of America raised shares of Integer from a “neutral” rating to a “buy” rating and increased their price objective for the company from $105.00 to $135.00 in a report on Monday, April 15th. Truist Financial assumed coverage on shares of Integer in a research report on Wednesday, May 15th. They issued a “buy” rating and a $137.00 target price for the company. Citigroup boosted their target price on Integer from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Oppenheimer assumed coverage on Integer in a research note on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective on the stock. Finally, Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of Integer in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.88.

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.