Medical technology company Integer Holdings (NYSE:ITGR) will be announcing earnings results this Thursday morning. Here’s what you need to know.
Integer Holdings beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $437.4 million, up 7.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and a solid beat of analysts’ organic revenue estimates.
Is Integer Holdings a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Integer Holdings’s revenue to grow 8.5% year on year to $464.4 million, slowing from the 9.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.55 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Integer Holdings has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Integer Holdings’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 21.4%, beating analysts’ expectations by 3.7%, and Abbott Laboratories reported revenues up 7.4%, topping estimates by 0.9%. Abbott Laboratories traded down 6.1% following the results.
Read our full analysis of Intuitive Surgical’s results here and Abbott Laboratories’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. Integer Holdings is down 4% during the same time and is heading into earnings with an average analyst price target of $148.75 (compared to the current share price of $114.32).
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