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Shares of Integer Holdings Corporation (ITGR - Free Report) scaled a new 52-week high of $119 on Apr 9, before closing the session marginally lower at $118.99.
Over the past year, this Zacks Rank #3 (Hold) stock has gained 50.4% compared with a 9.2% rise of the industry and 27.4% growth of the S&P 500 Composite.
Over the past five years, the company registered earnings growth of 4.4% compared with the industry’s 10% rise. The company’s long-term expected growth rate of 15% compares with the industry’s growth projection of 14.7%. Integer Holdings’ earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 11.5%.
Integer Holdings is witnessing an upward trend in its stock price, prompted by its research and product development activities. The optimism led by a solid fourth-quarter 2023 performance and its strength in Medical sales are expected to contribute further. However, dependence on third-party suppliers and stiff competition continue to concern the company.
Image Source: Zacks Investment Research
Let’s delve deeper.
Key Growth Drivers
Research and Product Development: Investors are optimistic about Integer Holdings’ position as a developer and manufacturer of medical devices and components. The company is focused on developing new products, improving and enhancing existing products and expanding the use of its products in new or tangential applications. In addition to ITGR’s internal technology and capability development efforts aimed at providing its customers with differentiated solutions, the company engages outside research institutions for unique technology projects.
Strength in Medical Sales: Investors are optimistic about Integer Holdings’ Medical segment, which includes the Cardio and Vascular, Cardiac Rhythm Management & Neuromodulation and Advanced Surgical, Orthopedics and Portable Medical product lines.
Integer Holdings had acquired substantially all the assets and assumed certain liabilities of Florida-based InNeuroCo, Inc. (InNeuroCo) effective as of Oct 1, 2023. Per management, InNeuroCo’s differentiated neurovascular catheter innovation is expected to complement its existing capabilities and market focus, while further increasing its ability to provide enhanced solutions to its customers in the neurovascular catheter space.
Strong Q4 Results: Integer Holdings’ robust fourth-quarter 2023 results raise optimism. The company registered year-over-year top-line and bottom-line performances. The Medical segment recorded robust results owing to the strength of its product lines.
Downsides
Stiff Competition: Integer Holdings sells its products to customers in several industries that are characterized by extensive research and development, rapid technological changes, new product introductions and evolving industry standards. Without the timely introduction of new products, technologies and enhancements, the company’s products and services will likely become technologically obsolete or less competitive over time, and Integer Holdings may lose or see a reduction in business from a significant number of its customers.
Dependence on Third-Party Suppliers: Integer Holdings’ business depends on a continuous supply of raw materials, which may be susceptible to fluctuations due to transportation issues, government regulations and price controls, among others. Significant increases in the cost of raw materials, which cannot be recovered through increases in the prices of the company’s products, could adversely affect its operating results.
Key Picks
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Ecolab Inc. (ECL - Free Report) .
DaVita, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 57.8% compared with the industry’s 15.7% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 34.6% compared with the industry’s 8.9% rise in the past year.
Ecolab, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.7%.
Ecolab’s shares have rallied 34.8% against the industry’s 5.5% decline in the past year.
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Integer Holdings (ITGR) Hits 52-Week High: What's Driving It?
Shares of Integer Holdings Corporation (ITGR - Free Report) scaled a new 52-week high of $119 on Apr 9, before closing the session marginally lower at $118.99.
Over the past year, this Zacks Rank #3 (Hold) stock has gained 50.4% compared with a 9.2% rise of the industry and 27.4% growth of the S&P 500 Composite.
Over the past five years, the company registered earnings growth of 4.4% compared with the industry’s 10% rise. The company’s long-term expected growth rate of 15% compares with the industry’s growth projection of 14.7%. Integer Holdings’ earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 11.5%.
Integer Holdings is witnessing an upward trend in its stock price, prompted by its research and product development activities. The optimism led by a solid fourth-quarter 2023 performance and its strength in Medical sales are expected to contribute further. However, dependence on third-party suppliers and stiff competition continue to concern the company.
Image Source: Zacks Investment Research
Let’s delve deeper.
Key Growth Drivers
Research and Product Development: Investors are optimistic about Integer Holdings’ position as a developer and manufacturer of medical devices and components. The company is focused on developing new products, improving and enhancing existing products and expanding the use of its products in new or tangential applications. In addition to ITGR’s internal technology and capability development efforts aimed at providing its customers with differentiated solutions, the company engages outside research institutions for unique technology projects.
Strength in Medical Sales: Investors are optimistic about Integer Holdings’ Medical segment, which includes the Cardio and Vascular, Cardiac Rhythm Management & Neuromodulation and Advanced Surgical, Orthopedics and Portable Medical product lines.
Integer Holdings had acquired substantially all the assets and assumed certain liabilities of Florida-based InNeuroCo, Inc. (InNeuroCo) effective as of Oct 1, 2023. Per management, InNeuroCo’s differentiated neurovascular catheter innovation is expected to complement its existing capabilities and market focus, while further increasing its ability to provide enhanced solutions to its customers in the neurovascular catheter space.
Strong Q4 Results: Integer Holdings’ robust fourth-quarter 2023 results raise optimism. The company registered year-over-year top-line and bottom-line performances. The Medical segment recorded robust results owing to the strength of its product lines.
Downsides
Stiff Competition: Integer Holdings sells its products to customers in several industries that are characterized by extensive research and development, rapid technological changes, new product introductions and evolving industry standards. Without the timely introduction of new products, technologies and enhancements, the company’s products and services will likely become technologically obsolete or less competitive over time, and Integer Holdings may lose or see a reduction in business from a significant number of its customers.
Dependence on Third-Party Suppliers: Integer Holdings’ business depends on a continuous supply of raw materials, which may be susceptible to fluctuations due to transportation issues, government regulations and price controls, among others. Significant increases in the cost of raw materials, which cannot be recovered through increases in the prices of the company’s products, could adversely affect its operating results.
Key Picks
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Ecolab Inc. (ECL - Free Report) .
DaVita, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 57.8% compared with the industry’s 15.7% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 34.6% compared with the industry’s 8.9% rise in the past year.
Ecolab, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.7%.
Ecolab’s shares have rallied 34.8% against the industry’s 5.5% decline in the past year.