Integer (NYSE:ITGR) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Integer (NYSE:ITGR) issued its quarterly earnings data on Thursday. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06, Briefing.com reports. The firm had revenue of $436.20 million during the quarter, compared to analysts’ expectations of $437.00 million. Integer had a net margin of 6.01% and a return on equity of 11.25%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. Integer updated its FY24 guidance to $5.07-5.49 EPS and its FY 2024 guidance to 5.070-5.490 EPS.

Integer Trading Up 1.1 %

Integer stock traded up $1.22 during trading hours on Friday, reaching $116.90. 460,076 shares of the company’s stock were exchanged, compared to its average volume of 330,642. Integer has a twelve month low of $69.40 and a twelve month high of $130.15. The company has a quick ratio of 2.01, a current ratio of 3.32 and a debt-to-equity ratio of 0.76. The firm’s 50 day simple moving average is $119.11 and its 200 day simple moving average is $113.04. The firm has a market capitalization of $3.92 billion, a PE ratio of 40.42, a PEG ratio of 1.84 and a beta of 1.11.

Insiders Place Their Bets

In other news, EVP John A. Harris sold 1,521 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $120.44, for a total value of $183,189.24. Following the completion of the transaction, the executive vice president now directly owns 4,922 shares of the company’s stock, valued at $592,805.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Integer news, VP Tommy P. Thomas sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $114.00, for a total transaction of $171,000.00. Following the sale, the vice president now owns 2,813 shares of the company’s stock, valued at approximately $320,682. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Harris sold 1,521 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $120.44, for a total transaction of $183,189.24. Following the completion of the sale, the executive vice president now owns 4,922 shares in the company, valued at $592,805.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,936 shares of company stock worth $2,130,937. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America upgraded shares of Integer from a “neutral” rating to a “buy” rating and upped their price objective for the company from $105.00 to $135.00 in a research report on Monday, April 15th. KeyCorp boosted their price objective on shares of Integer from $123.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Citigroup increased their price target on Integer from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Oppenheimer initiated coverage on shares of Integer in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 price target for the company. Finally, Benchmark reiterated a “buy” rating and set a $130.00 target price on shares of Integer in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.88.

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.