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Integer (ITGR) Beats Earnings and Revenue Estimates in Q4
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Integer Holdings Corporation (ITGR - Free Report) reported adjusted earnings of 87 cents per share in the fourth quarter of 2016, lower than the year-ago quarter figure of 92 cents. Meanwhile, earnings beat the Zacks Consensus Estimate of 82 cents.
Revenues rose 13% year over year to $359.6 million from $318.0 million. This also exceeded the Zacks Consensus Estimate of $352.0 million.
Stock Performance
The price performance of the stock has been favorable in the last three months. Integer registered a stable return of 30.22%, outpacing the Zacks classified Medical - Instruments sub-industry’s gain of almost 11.78%.
Quarter Details
Integer operates through three segments Advanced Surgical, Orthopedics and Portable Medical; Cardio and Vascular; and Cardiac/Neuromodulation.
Advanced Surgical, Orthopedics, and Portable Medical include the legacy Greatbatch Orthopedics and Portable Medical products in addition to Lake Region Medical Advanced Surgical offerings. Revenue for the fourth quarter was $101.9 million, a 10% increase over the prior-year quarter. This can primarily be attributed to the acquisition of Lake Region Medical. On a comparable organic constant currency basis, Advanced Surgical, Orthopedics & Portable Medical revenue decreased 3% year over year. This was primarily driven by a reduction in demand and contractual price reductions given in exchange for longer-term volume commitments.
Cardio and Vascular includes the Vascular product line and the Lake Region Medical Cardio and Vascular sales. GAAP revenue for the fourth quarter was $142.4 million, a 34% increase over the prior-year quarter. This came on the back of the acquisition of Lake Region Medical. On a comparable organic constant currency basis, revenue in the reported quarter increased 7% over the prior year, chiefly driven by increased customer demand for electrophysiology and vascular access products.
Cardiac/Neuromodulation products include the legacy Greatbatch Cardiac/Neuromodulation segment and QiG in addition to the legacy Lake Region Medical Cardiac/Neuromodulation segment. GAAP revenue for the fourth quarter was $104.9 million, a 2% decrease over the prior-year quarter. On a comparable organic constant currency basis, Cardiac & Neuromodulation revenue decreased 5%. The year-over-year decrease was backed by higher demand in the fourth quarter of 2015. Additionally, Cardiac & Neuromodulation sales were impacted by contractual price reductions given in exchange for longer-term volume commitments.
Integer Holdings Corporation Price, Consensus and EPS Surprise
Integer expects revenues for full year 2017 in the range of $1.430–$1.390 billion on an adjusted comparable basis. Adjusted earnings are expected in the range of $3.10–$2.70 per share for full-year 2017.
Zacks Rank & Key Picks
Currently, Integer carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Glaukos Corporation (GKOS - Free Report) , Avinger, Inc. (AVGR - Free Report) and Fluidigm Corporation . Notably, Glaukos sports a Zacks Rank #1 (Strong Buy), while Avinger and Fluidigm carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Glaukos Corporation has a long-term expected earnings growth rate of approximately 25%. Notably, the stock represents an impressive one-year return of 184.6%.
Avinger projects sales growth of 30.7% for the current year. Additionally, the company posted a positive earnings surprise of 27% in the last quarter.
Fluidigm Corporation has a long-term expected earnings growth rate of 25%. The stock added 1.23% over the last three months.
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Integer (ITGR) Beats Earnings and Revenue Estimates in Q4
Integer Holdings Corporation (ITGR - Free Report) reported adjusted earnings of 87 cents per share in the fourth quarter of 2016, lower than the year-ago quarter figure of 92 cents. Meanwhile, earnings beat the Zacks Consensus Estimate of 82 cents.
Revenues rose 13% year over year to $359.6 million from $318.0 million. This also exceeded the Zacks Consensus Estimate of $352.0 million.
Stock Performance
The price performance of the stock has been favorable in the last three months. Integer registered a stable return of 30.22%, outpacing the Zacks classified Medical - Instruments sub-industry’s gain of almost 11.78%.
Quarter Details
Integer operates through three segments Advanced Surgical, Orthopedics and Portable Medical; Cardio and Vascular; and Cardiac/Neuromodulation.
Advanced Surgical, Orthopedics, and Portable Medical include the legacy Greatbatch Orthopedics and Portable Medical products in addition to Lake Region Medical Advanced Surgical offerings. Revenue for the fourth quarter was $101.9 million, a 10% increase over the prior-year quarter. This can primarily be attributed to the acquisition of Lake Region Medical. On a comparable organic constant currency basis, Advanced Surgical, Orthopedics & Portable Medical revenue decreased 3% year over year. This was primarily driven by a reduction in demand and contractual price reductions given in exchange for longer-term volume commitments.
Cardio and Vascular includes the Vascular product line and the Lake Region Medical Cardio and Vascular sales. GAAP revenue for the fourth quarter was $142.4 million, a 34% increase over the prior-year quarter. This came on the back of the acquisition of Lake Region Medical. On a comparable organic constant currency basis, revenue in the reported quarter increased 7% over the prior year, chiefly driven by increased customer demand for electrophysiology and vascular access products.
Cardiac/Neuromodulation products include the legacy Greatbatch Cardiac/Neuromodulation segment and QiG in addition to the legacy Lake Region Medical Cardiac/Neuromodulation segment. GAAP revenue for the fourth quarter was $104.9 million, a 2% decrease over the prior-year quarter. On a comparable organic constant currency basis, Cardiac & Neuromodulation revenue decreased 5%. The year-over-year decrease was backed by higher demand in the fourth quarter of 2015. Additionally, Cardiac & Neuromodulation sales were impacted by contractual price reductions given in exchange for longer-term volume commitments.
Integer Holdings Corporation Price, Consensus and EPS Surprise
Integer Holdings Corporation Price, Consensus and EPS Surprise | Integer Holdings Corporation Quote
Guidance
Integer expects revenues for full year 2017 in the range of $1.430–$1.390 billion on an adjusted comparable basis. Adjusted earnings are expected in the range of $3.10–$2.70 per share for full-year 2017.
Zacks Rank & Key Picks
Currently, Integer carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Glaukos Corporation (GKOS - Free Report) , Avinger, Inc. (AVGR - Free Report) and Fluidigm Corporation . Notably, Glaukos sports a Zacks Rank #1 (Strong Buy), while Avinger and Fluidigm carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Glaukos Corporation has a long-term expected earnings growth rate of approximately 25%. Notably, the stock represents an impressive one-year return of 184.6%.
Avinger projects sales growth of 30.7% for the current year. Additionally, the company posted a positive earnings surprise of 27% in the last quarter.
Fluidigm Corporation has a long-term expected earnings growth rate of 25%. The stock added 1.23% over the last three months.
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1?
In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months.
Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>