Integer (NYSE:ITGR) Issues Earnings Results, Beats Expectations By $0.17 EPS

Integer (NYSE:ITGR) issued its earnings results on Thursday. The medical equipment provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.17, Briefing.com reports. Integer had a return on equity of 16.38% and a net margin of 15.73%. The business had revenue of $314.20 million during the quarter, compared to analyst estimates of $318.50 million. During the same period in the previous year, the company posted $1.06 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Integer updated its FY19 guidance to $4.25-4.45 EPS.

ITGR stock traded down $4.07 during mid-day trading on Friday, reaching $84.27. 213,490 shares of the company traded hands, compared to its average volume of 163,314. The firm has a market cap of $2.88 billion, a PE ratio of 16.57 and a beta of 0.96. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.78. Integer has a fifty-two week low of $67.72 and a fifty-two week high of $92.61. The company has a 50 day simple moving average of $82.93.

ITGR has been the subject of a number of research analyst reports. Argus decreased their target price on Integer from $90.00 to $4.29 and set an “average” rating for the company in a research report on Wednesday, June 5th. They noted that the move was a valuation call. ValuEngine lowered Integer from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research lowered Integer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Northcoast Research reiterated a “buy” rating on shares of Integer in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.57.

In related news, Director James F. Hinrichs purchased 3,750 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $68.47 per share, for a total transaction of $256,762.50. Following the purchase, the director now owns 6,549 shares of the company’s stock, valued at $448,410.03. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.24% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can boosted its stake in Integer by 1.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,913 shares of the medical equipment provider’s stock valued at $3,010,000 after purchasing an additional 692 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Integer by 1.5% in the 1st quarter. Rhumbline Advisers now owns 88,788 shares of the medical equipment provider’s stock worth $6,696,000 after buying an additional 1,293 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Integer in the 1st quarter worth approximately $45,000. Clark Capital Management Group Inc. purchased a new position in shares of Integer in the 1st quarter worth approximately $2,812,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Integer by 68.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,650 shares of the medical equipment provider’s stock worth $1,024,000 after buying an additional 5,562 shares during the last quarter. Institutional investors and hedge funds own 96.34% of the company’s stock.

About Integer

Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates in two segments, Medical and Non-Medical. The company offers products for vascular, cardiac surgery, and structural heart diseases; peripheral vascular, neurovascular, urology, and oncology products; and electrophysiology, infusion therapy, and hemodialysis products.

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Earnings History for Integer (NYSE:ITGR)

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