Integer (NYSE:ITGR) Updates FY24 Earnings Guidance

Integer (NYSE:ITGR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.24-5.43 for the period, compared to the consensus estimate of $5.30. The company issued revenue guidance of $1.707-1.727 billion, compared to the consensus revenue estimate of $1.74 billion.

Integer Stock Up 0.8 %

Integer stock opened at $126.53 on Thursday. The stock’s 50 day moving average price is $127.37 and its 200 day moving average price is $120.86. The company has a market cap of $4.24 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 1.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.29 and a quick ratio of 1.96. Integer has a 1-year low of $69.40 and a 1-year high of $133.53.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark lifted their price target on shares of Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer initiated coverage on Integer in a report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective for the company. KeyCorp boosted their target price on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Bank of America raised their price target on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Citigroup boosted their price objective on shares of Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.14.

Insider Activity at Integer

In other Integer news, Director Jean M. Hobby sold 11,960 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total value of $1,431,133.60. Following the transaction, the director now directly owns 2,280 shares in the company, valued at approximately $272,824.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.