Integer (NYSE:ITGR) Posts Earnings Results, Beats Estimates By $0.07 EPS

Integer (NYSE:ITGR) announced its quarterly earnings results on Thursday. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07, Briefing.com reports. Integer had a net margin of 6.31% and a return on equity of 11.48%. The business had revenue of $431.42 million during the quarter, compared to the consensus estimate of $440.59 million. During the same quarter last year, the firm posted $1.27 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. Integer updated its FY24 guidance to $5.24-5.43 EPS and its FY 2024 guidance to 5.240-5.430 EPS.

Integer Trading Up 0.3 %

NYSE:ITGR traded up $0.42 on Thursday, hitting $126.95. 132,813 shares of the stock were exchanged, compared to its average volume of 311,085. The stock has a market cap of $4.25 billion, a PE ratio of 43.31, a PEG ratio of 1.86 and a beta of 1.08. Integer has a fifty-two week low of $69.40 and a fifty-two week high of $133.53. 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 fifty day moving average of $127.37 and a 200-day moving average of $120.86.

Insider Transactions at Integer

In other Integer news, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the transaction, the director now directly owns 2,280 shares of the company’s stock, valued at $272,824.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ITGR. KeyCorp boosted their price target on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Bank of America upped their target price on shares of Integer from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Oppenheimer initiated coverage on shares of Integer in a research note on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective on the stock. Benchmark increased their price target on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup increased their target price on Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Integer currently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

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.