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

Integer Holdings Co. (NYSE:ITGR) – Analysts at Zacks Research lowered their Q1 2024 earnings per share (EPS) estimates for shares of Integer in a note issued to investors on Thursday, April 18th. Zacks Research analyst D. Dey now expects that the medical equipment provider will post earnings of $1.11 per share for the quarter, down from their prior estimate 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 quarterly earnings results on Thursday, February 15th. The medical equipment provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. The business had revenue of $413.15 million during 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 company posted $1.11 EPS.

A number of other equities research analysts also recently issued reports on ITGR. KeyCorp boosted their price target on Integer from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. 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. Bank of America upgraded Integer from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $135.00 in a research note on Monday. Finally, CL King assumed coverage on Integer in a research note on Thursday, March 14th. They set a “buy” rating and a $137.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Integer presently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

Integer Trading Down 0.6 %

Integer stock opened at $117.79 on Friday. The business has a 50-day simple moving average of $111.60 and a two-hundred day simple moving average of $98.22. The company has a market cap of $3.95 billion, a P/E ratio of 43.79, a P/E/G ratio of 1.64 and a beta of 1.10. Integer has a 52-week low of $69.40 and a 52-week high of $121.53. The company has a quick ratio of 1.71, a current ratio of 2.80 and a debt-to-equity ratio of 0.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its holdings in shares of Integer by 12.6% during the 1st quarter. Raymond James & Associates now owns 40,898 shares of the medical equipment provider’s stock worth $3,295,000 after acquiring an additional 4,578 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Integer by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 406,645 shares of the medical equipment provider’s stock worth $32,763,000 after acquiring an additional 5,256 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Integer by 20.9% during the 1st quarter. American Century Companies Inc. now owns 5,573 shares of the medical equipment provider’s stock worth $449,000 after acquiring an additional 963 shares in the last quarter. US Bancorp DE raised its holdings in shares of Integer by 11.8% during the 1st quarter. US Bancorp DE now owns 9,970 shares of the medical equipment provider’s stock worth $803,000 after acquiring an additional 1,051 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Integer by 2.9% during the 1st quarter. HighTower Advisors LLC now owns 7,831 shares of the medical equipment provider’s stock worth $632,000 after acquiring an additional 217 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.