Integer (NYSE:ITGR) Issues Earnings Results, Beats Estimates By $0.02 EPS

Integer (NYSE:ITGR) posted its quarterly earnings data on Thursday. The medical equipment provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02, Briefing.com reports. Integer had a net margin of 5.68% and a return on equity of 10.80%. The firm had revenue of $414.80 million during the quarter, compared to analyst estimates of $412.78 million. During the same quarter last year, the business posted $0.87 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Integer updated its FY24 guidance to $5.01-5.43 EPS and its FY 2024 guidance to 5.010-5.430 EPS.

Integer Trading Down 1.4 %

NYSE ITGR traded down $1.57 during trading on Friday, reaching $109.58. 604,251 shares of the stock traded hands, compared to its average volume of 341,791. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10. The stock’s 50-day moving average price is $112.91 and its 200 day moving average price is $99.57. The company has a quick ratio of 1.71, a current ratio of 2.80 and a debt-to-equity ratio of 0.64. Integer has a fifty-two week low of $69.40 and a fifty-two week high of $123.99.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITGR. CL King initiated coverage on shares of Integer in a report on Thursday, March 14th. They set a “buy” rating and a $137.00 price target on the stock. 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 report on Monday, April 15th. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Integer in a report on Friday. Finally, KeyCorp lifted their target price 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Integer has a consensus rating of “Moderate Buy” and a consensus target price of $120.50.

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.