Zacks Research Comments on Integer Holdings Co.’s Q1 2024 Earnings (NYSE:ITGR)

Integer Holdings Co. (NYSE:ITGR) – Analysts at Zacks Research decreased their Q1 2024 earnings per share estimates for Integer in a report issued on Thursday, April 18th. Zacks Research analyst D. Dey now forecasts that the medical equipment provider will earn $1.11 per share for the quarter, down from their previous forecast of $1.14. The consensus estimate for Integer’s current full-year earnings is $5.30 per share. Zacks Research also issued estimates for Integer’s Q3 2024 earnings at $1.40 EPS, Q4 2024 earnings at $1.52 EPS, FY2024 earnings at $5.25 EPS, Q3 2025 earnings at $1.58 EPS, FY2025 earnings at $6.08 EPS and FY2026 earnings at $6.51 EPS.

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

ITGR has been the subject of several other reports. Benchmark increased their price target on Integer from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Bank of America upgraded Integer from a “neutral” rating to a “buy” rating and increased their price target for the stock from $105.00 to $135.00 in a report on Monday. 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. Finally, KeyCorp increased 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.50.

Integer Trading Down 0.6 %

NYSE:ITGR opened at $117.79 on Friday. Integer has a 1-year low of $69.40 and a 1-year high of $121.53. The business’s 50-day moving average price is $111.60 and its two-hundred day moving average price is $98.22. The company has a current ratio of 2.80, a quick ratio of 1.71 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 1.64 and a beta of 1.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in Integer in the 3rd quarter valued at $816,000. Dark Forest Capital Management LP raised its holdings in Integer by 69.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 11,984 shares of the medical equipment provider’s stock valued at $940,000 after acquiring an additional 4,926 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new position in shares of Integer during the 4th quarter worth $239,000. Nomura Holdings Inc. raised its holdings in shares of Integer by 3.9% during the 3rd quarter. Nomura Holdings Inc. now owns 180,270 shares of the medical equipment provider’s stock worth $14,139,000 after buying an additional 6,731 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Integer by 12.8% during the 3rd quarter. FMR LLC now owns 863,938 shares of the medical equipment provider’s stock worth $67,759,000 after buying an additional 97,851 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

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.