Integer (NYSE:ITGR) Updates FY24 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $5.01-5.43 for the period, compared to the consensus EPS estimate of $5.31. The company issued revenue guidance of 1.74-1.77 billion, compared to the consensus revenue estimate of $1.76 billion. Integer also updated its FY 2024 guidance to 5.010-5.430 EPS.

Integer Stock Down 1.4 %

NYSE ITGR traded down $1.57 on Friday, reaching $109.58. The company had a trading volume of 604,251 shares, compared to its average volume of 492,104. The stock has a market capitalization of $3.67 billion, a P/E ratio of 37.92, a P/E/G ratio of 1.54 and a beta of 1.10. The company’s fifty day moving average is $113.11 and its 200 day moving average is $99.78. Integer has a 52-week low of $69.40 and a 52-week high of $123.99. The company has a quick ratio of 1.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.76.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. The business had revenue of $414.80 million during the quarter, compared to analyst estimates of $412.78 million. Integer had a return on equity of 11.25% and a net margin of 6.01%. Integer’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. Sell-side analysts anticipate that Integer will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ITGR shares. KeyCorp upped their price objective on Integer from $123.00 to $139.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. CL King started coverage on Integer in a research note on Thursday, March 14th. They issued a buy rating and a $137.00 price objective for the company. Benchmark restated a buy rating and issued a $130.00 price objective on shares of Integer in a research note on Friday. Finally, Bank of America upgraded 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 note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average 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.