Integer (NYSE:ITGR) Issues Quarterly Earnings Results, Misses Estimates By $0.34 EPS

Key Points

• Integer reported disappointing quarterly results: EPS was $1.34, missing the $1.68 consensus by $0.34, while revenue of $449.66 million fell short of the $456.91 million estimate and declined 3.8% year over year.
• Shares traded near a 12-month high at $126.58, but analyst sentiment remains cautious: 11 analysts rate the stock Hold and one rates it Buy, with an average price target of $113.67.
• Insiders sold 40,948 shares worth approximately $5.17 million over the past three months, including substantial reductions in holdings by Kirk Thor and Andrew Senn.

Integer (NYSE:ITGR - Get Free Report) issued its earnings results on Thursday. The medical equipment provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.34), FiscalAI reports. The business had revenue of $449.66 million for the quarter, compared to analysts' expectations of $456.91 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. The business's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.79 earnings per share.

Integer Stock Performance

Shares of ITGR traded up $0.04 during trading hours on Thursday, hitting $126.58. The stock had a trading volume of 348,001 shares, compared to its average volume of 785,753. The firm has a market capitalization of $4.30 billion, a PE ratio of 34.59, a PEG ratio of 2.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.73 and a quick ratio of 2.41. Integer has a 12 month low of $62.00 and a 12 month high of $126.83. The stock has a fifty day moving average price of $126.18 and a 200 day moving average price of $100.40.

Analysts Set New Price Targets

Several research firms recently commented on ITGR. Truist Financial downgraded Integer from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $110.00 to $127.00 in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Integer from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. Raymond James Financial downgraded shares of Integer from a "moderate buy" rating to a "hold" rating in a report on Monday, August 3rd. KeyCorp lowered shares of Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. Finally, Zacks Research raised shares of Integer from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $113.67.

Insider Transactions at Integer

In other Integer news, insider Kirk Thor sold 19,773 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $126.25, for a total value of $2,496,341.25. Following the transaction, the insider directly owned 18,920 shares of the company's stock, valued at approximately $2,388,650. This trade represents a 51.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Senn sold 9,408 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total value of $1,188,230.40. Following the sale, the insider owned 5,405 shares of the company's stock, valued at approximately $682,651.50. This represents a 63.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 40,948 shares of company stock worth $5,169,920. 1.10% of the stock is owned by corporate insiders.

Integer Company Profile

Integer Holdings Corporation NYSE: ITGR is a global medical device and advanced energy technology company. It partners with original equipment manufacturers to design and manufacture components, subassemblies and finished products used in minimally invasive and implantable medical devices.

Its medical technologies include batteries and power systems for pacemakers, implantable cardioverter-defibrillators, neurostimulators and drug-delivery systems, as well as catheter and guidewire components, coated wire, electrodes and other products used in cardiovascular, neuromodulation and other medical applications.

Integer also develops specialty batteries and power solutions for markets such as energy, aerospace and defense.

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