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Shares of Integer Holdings Corporation (ITGR - Free Report) scaled a new 52-week high of $117.22 on Mar 7, before closing the session marginally lower at $116.19.
Over the past year, this Zacks Rank #3 (Hold) stock has gained 55.5% compared with a 15.2% rise of the industry and 31.9% 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 8.8% rise. The company’s long-term expected growth rate of 15% compares with the industry’s growth projection of 14.2%. 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 solid foothold in the broader MedTech space are expected to contribute further. However, dependence on third-party suppliers and volatility in energy markets 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.
Solid Foothold in the Broader MedTech Space: Investors are optimistic about Integer Holdings’ stable footing in the cardiac, neuromodulation, orthopedics, vascular and advanced surgical markets. Its primary customers include large, multi-national original equipment manufacturers and their affiliated subsidiaries.
ITGR is focused on sales efforts to increase its market penetration in the Cardio & Vascular, Neuromodulation and Non-Medical Electrochem markets. The company is undertaking strategic initiatives to maintain its leadership position in the cardiac rhythm management market.
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
Volatility in Energy Markets: Sales of Integer Holdings’ products into the energy market depends upon the condition of the oil and gas industry. Currently, oil and natural gas prices have been subject to significant fluctuation. As a result, the oil and gas exploration and production business are affected by a variety of political and economic factors, including worldwide demand for oil and natural gas and worldwide and domestic supplies of oil and natural gas. Per management, a change in the oil and gas exploration and production industry or a reduction in the exploration and production expenditures of oil and gas companies could cause the company’s energy market revenues to decline.
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 Cencora, Inc. (COR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), 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 79.1% compared with the industry’s 25.4% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 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 59.5% compared with the industry’s 17.4% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 58.4% compared with the industry’s 5.5% rise in the past year.
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Integer Holdings (ITGR) Hits 52-Week High: What's Aiding It?
Shares of Integer Holdings Corporation (ITGR - Free Report) scaled a new 52-week high of $117.22 on Mar 7, before closing the session marginally lower at $116.19.
Over the past year, this Zacks Rank #3 (Hold) stock has gained 55.5% compared with a 15.2% rise of the industry and 31.9% 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 8.8% rise. The company’s long-term expected growth rate of 15% compares with the industry’s growth projection of 14.2%. 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 solid foothold in the broader MedTech space are expected to contribute further. However, dependence on third-party suppliers and volatility in energy markets 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.
Solid Foothold in the Broader MedTech Space: Investors are optimistic about Integer Holdings’ stable footing in the cardiac, neuromodulation, orthopedics, vascular and advanced surgical markets. Its primary customers include large, multi-national original equipment manufacturers and their affiliated subsidiaries.
ITGR is focused on sales efforts to increase its market penetration in the Cardio & Vascular, Neuromodulation and Non-Medical Electrochem markets. The company is undertaking strategic initiatives to maintain its leadership position in the cardiac rhythm management market.
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
Volatility in Energy Markets: Sales of Integer Holdings’ products into the energy market depends upon the condition of the oil and gas industry. Currently, oil and natural gas prices have been subject to significant fluctuation. As a result, the oil and gas exploration and production business are affected by a variety of political and economic factors, including worldwide demand for oil and natural gas and worldwide and domestic supplies of oil and natural gas. Per management, a change in the oil and gas exploration and production industry or a reduction in the exploration and production expenditures of oil and gas companies could cause the company’s energy market revenues to decline.
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 Cencora, Inc. (COR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), 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 79.1% compared with the industry’s 25.4% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 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 59.5% compared with the industry’s 17.4% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 58.4% compared with the industry’s 5.5% rise in the past year.