Integer (NYSE:ITGR) Updates FY24 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.01-5.43 for the period, compared to the consensus earnings per share estimate of $5.31. The company issued revenue guidance of 1.74-1.77 billion, compared to the consensus revenue estimate of $1.76 billion.

Integer Stock Up 4.6 %

ITGR stock opened at $123.34 on Thursday. The stock’s fifty day simple moving average is $112.68 and its two-hundred day simple moving average is $99.49. The company has a current ratio of 2.80, a quick ratio of 1.71 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. The stock has a market cap of $4.13 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.63 and a beta of 1.10.

Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, February 15th. The medical equipment provider reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $413.15 million for the quarter, compared to analysts’ expectations of $409.04 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. Analysts expect that Integer will post 5.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America raised Integer from a neutral rating to a buy rating and upped their price target for the company from $105.00 to $135.00 in a research report on Monday, April 15th. Benchmark boosted their price objective on Integer from $105.00 to $130.00 and gave the company a buy rating in a research note on Thursday, March 28th. CL King started coverage on Integer in a research note on Thursday, March 14th. They set a buy rating and a $137.00 price objective on the stock. Finally, 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Integer presently has an average rating of Moderate Buy and a consensus price target of $120.50.

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.