Integer (NYSE:ITGR) Releases FY 2024 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.010-5.430 for the period, compared to the consensus earnings per share estimate of 5.310. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Integer also updated its FY24 guidance to $5.01-5.43 EPS.

Integer Price Performance

Shares of Integer stock traded down $10.41 on Thursday, hitting $112.86. The company’s stock had a trading volume of 342,010 shares, compared to its average volume of 322,735. 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 2.80 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $112.68 and a 200-day moving average price of $99.49. The company has a market capitalization of $3.78 billion, a P/E ratio of 42.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.10.

Integer (NYSE:ITGR) last released its earnings results on Thursday, February 15th. The medical equipment provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. Integer had a net margin of 5.68% and a return on equity of 10.80%. The company had revenue of $413.15 million for the quarter, compared to analyst estimates of $409.04 million. During the same period in the prior year, the firm earned $1.11 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts expect that Integer will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. CL King assumed coverage on Integer in a report on Thursday, March 14th. They issued a buy rating and a $137.00 price target for the company. Bank of America upgraded Integer from a neutral rating to a buy rating and upped their price target for the stock from $105.00 to $135.00 in a report on Monday, April 15th. KeyCorp upped their price target on Integer from $123.00 to $139.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Finally, Benchmark increased their target price on Integer from $105.00 to $130.00 and gave the company a buy rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Integer currently has a consensus rating of Moderate Buy and an average price target of $120.50.

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.