Integer (US:ITGR) zacks.comยท2024-05-24 17:41Company Overview - Integer Holdings (ITGR) has shown strong momentum in 2023, with shares increasing by 23.6%, outperforming the industry growth of 7.5% and the S&P 500's rise of 10.8% [1] - The company specializes in manufacturing and developing medical devices and components primarily for original equipment manufacturers, operating through two segments: Medical Sales and Non-Medical Sales [2] Growth Catalysts - The upward trend in Integer Holdings' stock price is driven by manufacturing excellence initiatives, an improved supply chain, and a favorable direct labor environment [3] - The company's strong performance in Medical sales and a solid first-quarter 2024 performance are expected to further contribute to growth [3][4] Financial Performance - In the trailing four quarters, sales in Cardiac Rhythm Management (CRM) and Neuromodulation increased by 12% year over year, with the Cardio and Vascular product line sales rising by 18% [5] - Integer Holdings reported a gross profit of $109.8 million in Q1 2024, reflecting a 13.6% year-over-year increase, with gross margin expanding to 26.5% [7] - Adjusted operating profit for the same quarter totaled $47.2 million, a 32.1% increase from the prior year, with adjusted operating margin expanding to 11.4% [7][6] Future Estimates - Earnings per share (EPS) for Integer Holdings are projected to grow by 14.1% and 15.4% in 2024 and 2025, reaching $5.33 and $6.155 respectively [10] - Revenues are expected to rise by 10% and 7.4% in 2024 and 2025, totaling $1.76 billion and $1.89 billion [10]