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

Integer (NYSE:ITGR) posted its earnings results on Thursday. The medical equipment provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02, Briefing.com reports. Integer had a return on equity of 10.80% and a net margin of 5.68%. The company had revenue of $414.80 million for the quarter, compared to the consensus estimate of $412.78 million. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Integer updated its FY24 guidance to $5.01-5.43 EPS and its FY 2024 guidance to 5.010-5.430 EPS.

Integer Trading Down 1.4 %

NYSE ITGR traded down $1.57 during mid-day trading on Friday, reaching $109.58. 604,251 shares of the stock were exchanged, compared to its average volume of 342,875. The stock has a market capitalization of $3.67 billion, a PE ratio of 40.36, a PEG ratio of 1.71 and a beta of 1.10. The business’s fifty day simple moving average is $112.91 and its 200 day simple moving average is $99.57. Integer has a 1-year low of $69.40 and a 1-year high of $123.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.71 and a current ratio of 2.80.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ITGR shares. KeyCorp upped their target price on Integer from $123.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of Integer in a research report on Friday. Bank of America raised Integer from a “neutral” rating to a “buy” rating and increased their price target for the stock from $105.00 to $135.00 in a research report on Monday, April 15th. Finally, CL King initiated coverage on Integer in a research report on Thursday, March 14th. They set a “buy” rating and a $137.00 target price on the stock. Three 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

Integer Company Profile

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.