Integer (NYSE:ITGR) Issues Earnings Results

Integer (NYSE:ITGR) announced its quarterly earnings results on Thursday. The medical equipment provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02, Briefing.com reports. Integer had a return on equity of 10.80% and a net margin of 5.68%. The business had revenue of $414.80 million for the quarter, compared to analyst estimates of $412.78 million. During the same quarter in the prior year, the company posted $0.87 EPS. The company’s quarterly 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 Stock Down 1.4 %

Shares of ITGR stock traded down $1.56 during trading hours on Friday, reaching $109.59. 604,251 shares of the stock were exchanged, compared to its average volume of 342,875. The business’s fifty day moving average is $112.91 and its two-hundred day moving average is $99.57. The firm has a market capitalization of $3.67 billion, a P/E ratio of 40.36, a P/E/G ratio of 1.71 and a beta of 1.10. Integer has a 12-month low of $69.40 and a 12-month high of $123.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.80 and a quick ratio of 1.71.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America raised Integer from a “neutral” rating to a “buy” rating and boosted their target price for the company from $105.00 to $135.00 in a research report on Monday, April 15th. CL King began coverage on Integer in a report on Thursday, March 14th. They set a “buy” rating and a $137.00 target price for the company. Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Integer in a research note on Friday. Finally, KeyCorp raised their price objective on shares of Integer from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.