Integer (NYSE:ITGR) Updates FY 2024 Earnings Guidance

Integer (NYSE:ITGR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.240-5.430 for the period, compared to the consensus EPS estimate of 5.300. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Integer also updated its FY24 guidance to $5.24-5.43 EPS.

Integer Price Performance

Shares of NYSE:ITGR opened at $125.77 on Friday. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.22 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The stock’s fifty day simple moving average is $127.58 and its two-hundred day simple moving average is $120.98. Integer has a 1-year low of $73.40 and a 1-year high of $133.53.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Integer had a net margin of 6.31% and a return on equity of 11.48%. The company had revenue of $431.42 million for the quarter, compared to analyst estimates of $440.59 million. During the same period last year, the firm earned $1.27 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Integer will post 5.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp increased their price target on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial lowered their target price on Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup raised their price objective on shares of Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Oppenheimer assumed coverage on shares of Integer in a research note on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $140.00 target price (up from $125.00) on shares of Integer in a research note on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.75.

Insiders Place Their Bets

In other news, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total value of $1,431,133.60. Following the completion of the transaction, the director now directly owns 2,280 shares in the company, valued at approximately $272,824.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

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.