Brokerages forecast that Integer Holdings Corp (NYSE:ITGR) will report sales of $292.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Integer’s earnings. The lowest sales estimate is $291.30 million and the highest is $292.70 million. Integer posted sales of $363.31 million in the same quarter last year, which suggests a negative year over year growth rate of 19.6%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, November 1st.
On average, analysts expect that Integer will report full year sales of $1.24 billion for the current year, with estimates ranging from $1.20 billion to $1.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Integer.
Integer (NYSE:ITGR) last announced its earnings results on Thursday, August 2nd. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The firm had revenue of $313.00 million for the quarter, compared to analysts’ expectations of $379.41 million. Integer had a return on equity of 12.60% and a net margin of 6.63%. Integer’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS.
A number of research analysts have weighed in on ITGR shares. Zacks Investment Research lowered Integer from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Argus started coverage on Integer in a research note on Wednesday, June 27th. They set a “buy” rating and a $78.00 price target on the stock. KeyCorp reissued an “overweight” rating and set a $78.00 price target (up previously from $65.00) on shares of Integer in a research note on Friday, July 6th. They noted that the move was a valuation call. Northcoast Research raised Integer from a “neutral” rating to a “buy” rating in a research note on Friday, July 13th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $72.00 price target on shares of Integer in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $76.80.
In other Integer news, Director William B. Summers, Jr. sold 26,661 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $81.07, for a total transaction of $2,161,407.27. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeremy Friedman sold 6,326 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $72.01, for a total value of $455,535.26. Following the completion of the transaction, the chief financial officer now directly owns 8,366 shares in the company, valued at $602,435.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,311 shares of company stock worth $8,201,676. Corporate insiders own 3.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ITGR. BlackRock Inc. raised its position in shares of Integer by 11.3% in the 2nd quarter. BlackRock Inc. now owns 4,415,682 shares of the medical equipment provider’s stock worth $285,473,000 after buying an additional 447,347 shares during the period. Millennium Management LLC raised its position in shares of Integer by 136.0% in the 1st quarter. Millennium Management LLC now owns 369,464 shares of the medical equipment provider’s stock worth $20,893,000 after buying an additional 212,916 shares during the period. Point72 Asset Management L.P. increased its holdings in Integer by 67.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 503,000 shares of the medical equipment provider’s stock valued at $32,519,000 after purchasing an additional 203,000 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Integer in the 1st quarter valued at $6,166,000. Finally, WINTON GROUP Ltd acquired a new stake in Integer in the 1st quarter valued at $6,084,000. 96.17% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ITGR traded up $0.82 during trading hours on Friday, reaching $74.25. 160,996 shares of the company traded hands, compared to its average volume of 214,611. The stock has a market cap of $2.66 billion, a PE ratio of 26.42 and a beta of 0.84. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.95 and a current ratio of 3.80. Integer has a 1-year low of $42.50 and a 1-year high of $84.20.
Integer Company Profile
Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates through two segments, Medical and Non-Medical. The company offers arthroscopic devices and components, such as shaver blades and burrs, ablation probes, and suture anchors; laparoscopic and general surgery products, including trocars, endoscopes and laparoscopes, closure devices, harmonic scalpels, bipolar energy delivery devices, radio frequency probes, thermal tumor ablation devices, and ophthalmic surgery devices; and biopsy and drug delivery products.
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