Integer (NYSE:ITGR) Updates FY 2024 Earnings Guidance

Integer (NYSE:ITGR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.010-5.430 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several brokerages have issued reports on ITGR. 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 target price for the company. Bank of America raised shares of Integer from a neutral rating to a buy rating and boosted their price objective for the company from $105.00 to $135.00 in a research report on Monday, April 15th. KeyCorp upped their target price on shares of Integer from $123.00 to $139.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Finally, Benchmark reaffirmed a buy rating and issued a $130.00 target price on shares of Integer in a research report on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $120.50.

Integer Stock Performance

ITGR traded down $1.57 during midday trading on Friday, hitting $109.58. 604,251 shares of the company traded hands, compared to its average volume of 492,104. The company has a quick ratio of 1.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.67 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10. The company’s 50-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.

Integer (NYSE:ITGR) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. Integer had a net margin of 6.01% and a return on equity of 11.25%. The firm had revenue of $414.80 million for the quarter, compared to analysts’ expectations of $412.78 million. During the same quarter in the prior year, the business earned $0.87 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts expect that Integer will post 5.31 EPS for the current year.

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.