Integer (NYSE:ITGR) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Integer (NYSE:ITGR) posted its quarterly earnings results on Thursday. The medical equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02, Briefing.com reports. The company had revenue of $414.80 million for the quarter, compared to analyst estimates of $412.78 million. Integer had a net margin of 5.68% and a return on equity of 10.80%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share. 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 traded down $1.57 during trading on Friday, hitting $109.58. 604,251 shares of the company’s stock traded hands, compared to its average volume of 342,875. The firm has a market capitalization of $3.67 billion, a P/E ratio of 40.36, a PEG ratio of 1.71 and a beta of 1.10. The business has a fifty day simple moving average of $112.91 and a two-hundred day simple moving average of $99.57. The company has a quick ratio of 1.71, a current ratio of 2.80 and a debt-to-equity ratio of 0.64. Integer has a 1 year low of $69.40 and a 1 year high of $123.99.

Wall Street Analyst Weigh In

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