Integer (NYSE:ITGR) Announces Earnings Results

Integer (NYSE:ITGR) announced its quarterly earnings results on Thursday. The medical equipment provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $1.79 earnings per share. Integer’s revenue for the quarter was down 3.8% on a year-over-year basis.

Integer Trading Up 0.0%

Shares of ITGR traded up $0.01 during mid-day trading on Thursday, hitting $126.56. 684,260 shares of the company’s stock traded hands, compared to its average volume of 787,615. The company has a quick ratio of 2.41, a current ratio of 3.73 and a debt-to-equity ratio of 0.75. Integer has a 1 year low of $62.00 and a 1 year high of $126.83. The firm has a market capitalization of $4.30 billion, a P/E ratio of 34.58, a PEG ratio of 2.41 and a beta of 0.58. The business’s 50-day moving average price is $126.18 and its 200-day moving average price is $100.40.

Wall Street Analyst Weigh In

ITGR has been the topic of several analyst reports. Citigroup lifted their target price on shares of Integer from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Benchmark cut shares of Integer from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th. Oppenheimer lowered shares of Integer from an “outperform” rating to a “market perform” rating in a report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on shares of Integer from $84.00 to $127.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Finally, Freedom Capital cut shares of Integer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Integer presently has a consensus rating of “Hold” and an average target price of $113.67.

Insiders Place Their Bets

In related news, insider Kirk Thor sold 11,767 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $126.23, for a total value of $1,485,348.41. Following the completion of the sale, the insider owned 7,153 shares of the company’s stock, valued at $902,923.19. This trade represents a 62.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the insider owned 5,405 shares in the company, valued at approximately $682,651.50. This trade represents a 63.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,948 shares of company stock valued at $5,169,920 in the last ninety days. 1.10% of the stock is currently owned by insiders.

About Integer

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.