Integer (ITGR), Beats Q4 Revenue Estimates and Earnings

Integer’s quarterly earnings beat the Zacks Consensus Estimate by $1.05 per shares. This compares to earnings at $0.99 per share last year. These numbers are adjusted to account for non-recurring items.

This quarterly report shows an earnings surprise in excess of 5.71 percent. It was expected that this manufacturer of medical devices outsources would report earnings of $0.89 per stock quarter ago. However, earnings actually reached $0.95 per share, which is a surprise at 6.74%.

The company’s consensus EPS estimates have been exceeded twice in the past four quarters.

Integer, which is part of the Zacks Medical-Instruments industry, reported revenues of $372.42 millions for the quarter ending December 2022. This was 1.58% more than the Zacks Consensus estimate. Comparable to the year-ago revenues, this compares with $313.02 millions. Over the past four quarters, the company has exceeded consensus revenue estimates twice.

Based on the most recent numbers, the sustainability of the stock’s price movement and future earnings expectations will largely depend on management’s comments on the earnings call.

Integer shares have added about 5.1% since the beginning of the year versus the S&P 500’s gain of 8%.

What’s next for Integer

Although Integer has outperformed the market in the first quarter of this year so far, investors will be asking: What’s next?

While there are no simple answers to this crucial question, investors can look at the earnings outlook of the company. This includes the current consensus earnings outlook for the upcoming quarter(s), as well as how they have changed recently.

Empirical research shows strong correlations between stock movements in the near-term and trends in earnings estimates revisions. Investors have the option to track such revisions themselves, or rely on a trusted rating tool like Zacks Rank. It has a long track record of harnessing earnings estimate revisions’ power.

Integer’s estimate revisions are unfavorable in advance of this earnings report. Although the direction and magnitude of estimates revisions may change after the company’s earnings report is released, the current Zacks rank for Integer is #4 (Sell). The shares will likely underperform in the near future. The complete Zacks #1 Rank (Strong buy) stock list can be found here.

It will be interesting, in the days to come, to see how estimates change for the next quarters as well as the current fiscal years. The consensus EPS estimate for the coming quarter is $0.99 on $329.14million in revenues and $4.22 at $1.48 trillion in revenues for this fiscal year.

Investors should consider the possibility that the outlook in the industry could have an effect on the stock’s performance. Medical – Instruments currently ranks in the top 38% among the 250+ Zacks industries. Our research has shown that the top 50 percent of Zacks-ranked industry outperforms the bottom half by more than two to 1.

PROCEPT BioRobotics (PRCT), another stock in the same sector, has yet to report its results for the quarter ended Dec 2022.

The company will report a quarterly loss of $0.53 per shares in the upcoming report. This is a change of -26.2% year-over-year. The consensus EPS estimate has been raised by 5.3% over the past 30 days to the current level.

PROCEPT BioRobotics Corporation’s revenue is expected to reach $23.7 million, an increase of 133.7% over the previous quarter.

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