Integer (ITGR) Updates FY18 Earnings Guidance

Integer (NYSE:ITGR) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $3.55-3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.59. The company issued revenue guidance of $1197-1212 million, compared to the consensus revenue estimate of $1.28 billion.

Several brokerages have recently commented on ITGR. Zacks Investment Research lowered shares of Integer from a buy rating to a hold rating in a report on Wednesday, September 12th. Royal Bank of Canada reiterated a hold rating and set a $72.00 target price on shares of Integer in a report on Friday, August 3rd. Northcoast Research upgraded shares of Integer to a buy rating and set a $83.00 price objective on the stock in a report on Friday, July 20th. TheStreet raised shares of Integer from a c+ rating to a b rating in a research report on Monday, August 6th. Finally, KeyCorp reissued an overweight rating and set a $78.00 price objective (up from $65.00) on shares of Integer in a research report on Friday, July 6th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $76.80.

ITGR opened at $74.47 on Thursday. The firm has a market capitalization of $2.37 billion, a P/E ratio of 26.50 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 12-month low of $42.50 and a 12-month high of $84.20.

Integer (NYSE:ITGR) last posted its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.63% and a return on equity of 12.60%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, equities research analysts anticipate that Integer will post 3.57 EPS for the current fiscal year.

In related news, CFO Jeremy Friedman sold 6,326 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $72.01, for a total value of $455,535.26. Following the sale, the chief financial officer now directly owns 8,366 shares of the company’s stock, valued at $602,435.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William B. Summers, Jr. sold 26,661 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $81.07, for a total transaction of $2,161,407.27. The disclosure for this sale can be found here. Insiders sold 107,311 shares of company stock worth $8,201,676 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

About Integer

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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Earnings History and Estimates for Integer (NYSE:ITGR)

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