Integer (NYSE:ITGR) Posts Earnings Results, Beats Estimates By $0.02 EPS

Integer (NYSE:ITGR - Get Free Report) issued its quarterly earnings results on Thursday. The medical equipment provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.02, Briefing.com reports. Integer had a return on equity of 10.80% and a net margin of 5.68%. The firm had revenue of $414.80 million during the quarter, compared to the consensus estimate of $412.78 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Integer's revenue for the quarter was up 9.5% on a year-over-year basis. Integer updated its FY24 guidance to $5.01-5.43 EPS and its FY 2024 guidance to 5.010-5.430 EPS.

Integer Stock Performance

Shares of NYSE:ITGR traded down $1.56 during trading on Friday, hitting $109.59. 604,251 shares of the company traded hands, compared to its average volume of 342,875. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 1.71 and a beta of 1.10. Integer has a one year low of $69.40 and a one year high of $123.99. The company has a quick ratio of 1.71, a current ratio of 2.80 and a debt-to-equity ratio of 0.64. The business's fifty day moving average is $113.11 and its 200-day moving average is $99.78.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITGR. Bank of America upgraded shares of Integer from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $105.00 to $135.00 in a research note on Monday, April 15th. KeyCorp upped their target price on shares of Integer from $123.00 to $139.00 and gave the company an "overweight" rating in a research note on Tuesday, April 9th. CL King initiated coverage on Integer in a research note on Thursday, March 14th. They issued a "buy" rating and a $137.00 price target for the company. Finally, Benchmark restated a "buy" rating and set a $130.00 price objective on shares of Integer in a research note on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Integer has a consensus rating of "Moderate Buy" and a consensus target price of $120.50.

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.