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

Integer (NYSE:ITGR) issued its quarterly earnings results on Thursday. The medical equipment provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02, Briefing.com reports. The firm had revenue of $414.80 million for the quarter, compared to analyst estimates of $412.78 million. Integer had a net margin of 5.68% and a return on equity of 10.80%. Integer’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. 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 NYSE:ITGR traded down $1.57 during trading on Friday, hitting $109.58. The company’s stock had a trading volume of 604,251 shares, compared to its average volume of 341,791. The business has a 50 day moving average price of $112.91 and a two-hundred day moving average price of $99.57. The company has a market capitalization of $3.67 billion, a PE ratio of 40.36, a P/E/G ratio of 1.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.71 and a current ratio of 2.80. Integer has a fifty-two week low of $69.40 and a fifty-two week high of $123.99.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America raised shares of Integer from a “neutral” rating to a “buy” rating and raised their target price for the stock from $105.00 to $135.00 in a research note on Monday, April 15th. CL King started coverage on shares of Integer in a research report on Thursday, March 14th. They set a “buy” rating and a $137.00 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of Integer in a research report on Friday. Finally, KeyCorp lifted their price target on shares of Integer from $123.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.50.

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.