Integer (NYSE:ITGR) Releases Earnings Results, Misses Expectations By $0.34 EPS

Integer (NYSE:ITGR) posted its quarterly earnings data 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. Integer had a return on equity of 12.79% and a net margin of 6.97%. The company had revenue of $449.66 million during the quarter, compared to analysts’ expectations of $456.91 million. During the same quarter last year, the company earned $1.79 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis.

Integer Price Performance

Shares of NYSE ITGR traded up $0.04 during midday trading on Thursday, reaching $126.58. The stock had a trading volume of 348,001 shares, compared to its average volume of 785,753. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58. Integer has a 12-month low of $62.00 and a 12-month high of $126.83. The stock has a 50-day moving average of $126.18 and a 200-day moving average of $100.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.41 and a current ratio of 3.73.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ITGR shares. Weiss Ratings upgraded Integer from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Piper Sandler cut Integer from an “overweight” rating to a “hold” rating and set a $127.00 price target for the company. in a research report on Monday, August 3rd. Freedom Capital downgraded Integer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Truist Financial downgraded Integer from a “buy” rating to a “hold” rating and raised their price objective for the stock from $110.00 to $127.00 in a research note on Monday, August 3rd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Integer in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $113.67.

Insiders Place Their Bets

In related news, insider Andrew Senn sold 9,408 shares of Integer stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the transaction, the insider owned 5,405 shares in the company, valued at approximately $682,651.50. The trade was a 63.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirk Thor sold 19,773 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $126.25, for a total transaction of $2,496,341.25. Following the completion of the transaction, the insider directly owned 18,920 shares of the company’s stock, valued at $2,388,650. This represents a 51.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have 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.