Integer (NYSE:ITGR) Issues Earnings Results

Integer (NYSE:ITGR) released its quarterly earnings results on Thursday. The medical equipment provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02, Briefing.com reports. Integer had a net margin of 6.01% and a return on equity of 11.25%. The firm had revenue of $414.80 million during the quarter, compared to analyst estimates of $412.78 million. During the same quarter last year, the business earned $0.87 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Integer updated its FY24 guidance to $5.01-5.43 EPS and its FY 2024 guidance to 5.010-5.430 EPS.

Integer Stock Down 1.4 %

ITGR stock opened at $109.58 on Friday. Integer has a fifty-two week low of $69.40 and a fifty-two week high of $123.99. The company has a market cap of $3.67 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.71 and a current ratio of 3.32. The stock’s 50 day simple moving average is $113.11 and its 200 day simple moving average is $99.92.

Wall Street Analysts Forecast Growth

ITGR has been the topic of several recent analyst reports. CL King started coverage on shares of Integer in a report on Thursday, March 14th. They issued a “buy” rating and a $137.00 target price on the stock. KeyCorp boosted 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. Bank of America raised Integer from a “neutral” rating to a “buy” rating and raised their target price for the stock from $105.00 to $135.00 in a research note on Monday, April 15th. Finally, Benchmark reissued a “buy” rating and issued a $130.00 price target on shares of Integer in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.