Integer (NYSE:ITGR) Updates FY 2024 Earnings Guidance

by · The Cerbat Gem

Integer (NYSE:ITGR – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.240-5.430 for the period, compared to the consensus estimate of 5.300. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Integer also updated its FY24 guidance to $5.24-5.43 EPS.

Integer Stock Down 0.8 %

Shares of ITGR traded down $0.99 on Friday, hitting $125.77. The company’s stock had a trading volume of 187,373 shares, compared to its average volume of 312,382. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 1.86 and a beta of 1.08. The firm’s fifty day moving average price is $127.58 and its 200-day moving average price is $120.98. Integer has a fifty-two week low of $73.40 and a fifty-two week high of $133.53.

Integer (NYSE:ITGR – Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $431.42 million during the quarter, compared to analyst estimates of $440.59 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 EPS. On average, equities research analysts expect that Integer will post 5.3 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup boosted their price target on Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and set a $140.00 target price (up from $125.00) on shares of Integer in a report on Friday. Truist Financial cut their price target on shares of Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research note on Friday. Benchmark boosted their price objective on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, KeyCorp upped their target price on shares of Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.75.

View Our Latest Analysis on Integer

Insider Buying and Selling

In related news, Director Jean M. Hobby sold 11,960 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total value of $1,431,133.60. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

About Integer

(Get Free Report)

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.

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