Integer (NYSE:ITGR) Updates FY 2024 Earnings Guidance

Integer (NYSE:ITGR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.010-5.430 for the period, compared to the consensus earnings per share 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.

Integer Price Performance

Shares of NYSE ITGR traded down $10.41 during mid-day trading on Thursday, hitting $112.86. 342,010 shares of the stock traded hands, compared to its average volume of 322,735. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.80 and a quick ratio of 1.71. Integer has a twelve month low of $69.40 and a twelve month high of $123.99. The company has a market cap of $3.78 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.10. The firm has a 50 day simple moving average of $112.68 and a two-hundred day simple moving average of $99.49.

Integer (NYSE:ITGR) last announced its earnings results on Thursday, February 15th. The medical equipment provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.34 by $0.05. The firm had revenue of $413.15 million for the quarter, compared to the consensus estimate of $409.04 million. Integer had a return on equity of 10.80% and a net margin of 5.68%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS. As a group, equities research analysts forecast that Integer will post 5.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ITGR. Bank of America raised Integer from a neutral rating to a buy rating and boosted their target price for the company from $105.00 to $135.00 in a research report on Monday, April 15th. CL King initiated coverage on Integer in a report on Thursday, March 14th. They set a buy rating and a $137.00 price objective for the company. KeyCorp boosted their price objective on Integer from $123.00 to $139.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Finally, Benchmark boosted their price objective on Integer from $105.00 to $130.00 and gave the stock a buy rating in a report on Thursday, March 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price 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.