Integer (NYSE:ITGR) Releases FY 2024 Earnings Guidance

Integer (NYSE:ITGR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.070-5.490 for the period, compared to the consensus 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.

Analysts Set New Price Targets

ITGR has been the topic of a number of research analyst reports. Benchmark reiterated a buy rating and issued a $130.00 price target on shares of Integer in a research note on Friday, May 10th. KeyCorp lifted their price objective on Integer from $123.00 to $139.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Citigroup lifted their target price on shares of 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 shares of Integer in a research note on Tuesday, July 16th. They issued an outperform rating and a $135.00 target price on the stock. Finally, Bank of America raised shares of Integer from a neutral rating to a buy rating and raised their price target for the company from $105.00 to $135.00 in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Integer presently has a consensus rating of Moderate Buy and an average target price of $128.88.

Integer Stock Performance

Shares of NYSE ITGR opened at $116.81 on Friday. The firm has a 50 day moving average of $119.03 and a 200 day moving average of $113.27. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 1.72 and a beta of 1.11. Integer has a 12-month low of $69.40 and a 12-month high of $130.15. The company has a current ratio of 3.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.73.

Integer (NYSE:ITGR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Integer had a return on equity of 11.48% and a net margin of 6.31%. The company had revenue of $436.20 million during the quarter, compared to the consensus estimate of $437.00 million. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, research analysts anticipate that Integer will post 5.3 earnings per share for the current year.

Insiders Place Their Bets

In other Integer news, EVP John A. Harris sold 1,521 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $120.44, for a total value of $183,189.24. Following the sale, the executive vice president now owns 4,922 shares in the company, valued at approximately $592,805.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP John A. Harris sold 1,521 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 4,922 shares of the company’s stock, valued at $592,805.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James F. Hinrichs sold 9,603 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $122.44, for a total transaction of $1,175,791.32. Following the completion of the transaction, the director now directly owns 7,424 shares of the company’s stock, valued at approximately $908,994.56. The disclosure for this sale can be found here. Insiders sold 17,936 shares of company stock worth $2,130,937 in the last three months. 2.00% of the stock is owned by company insiders.

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.