Integer Holdings (ITGR) AI Stock Analysis

• Market Cap: $4.18B
• Dividend Yield: N/A
• Average Volume (3M): 557.50K
• Price to Earnings (P/E): 57.0
• Beta (1Y): 0.78
• Revenue Growth: 7.41%
• EPS Growth: -22.10%
• Country: US
• Employees: 11,000
• Sector: Healthcare
• Sector Strength: 41
• Industry: Medical - Devices
• EPS (TTM): 1.31
• Shares Outstanding: 34,891,994
• 10 Day Avg. Volume: 317,047
• 30 Day Avg. Volume: 557,505
• PEG Ratio: -1.46
• Price to Book (P/B): 2.50
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 37.07
• Enterprise Value/Market Cap: 1.30
• Enterprise Value/Revenue: 0.80
• Enterprise Value/Gross Profit: 11.70
• Enterprise Value/Ebitda: 4.50
• 1Y Price Target: $147.83
• Price Target Upside: 23.02% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 70 Neutral
• Price Target: $130.00 ▲(8.18%Upside)

Integer Holdings' overall stock score reflects strong financial and strategic positions, with robust earnings call insights and positive corporate events. However, technical analysis suggests caution, and high valuation metrics could limit upside potential.

Positive Factors

Earnings

Integer Holdings reported better-than-expected financial results for its 1Q25, including revenues of $437.4 million, up 7.3% year-over-year.

Product Launches

New product launches should drive significant growth in the C&V sector.

Negative Factors

Sales Performance

CRM & Neuromod sales underperformed expectations, creating a potential area of concern for future growth.

Valuation

The price target is being lowered to $140 due to reduced valuation metrics for comparable stocks.

Integer Holdings Business Overview & Revenue Model

Company Description

Integer Holdings Corporation (ITGR) is a leading medical device outsource (MDO) manufacturer that serves the medical device industry with innovative, high-quality products and services. The company operates across various sectors, including cardiac and vascular, neuromodulation, orthopedics, advanced surgical, and non-medical markets. Integer provides a broad range of offerings, including components, subassemblies, and complete devices, enabling their clients to bring cutting-edge medical solutions to market efficiently and effectively.

How the Company Makes Money

Integer Holdings generates revenue primarily through the design, development, and manufacturing of medical devices for original equipment manufacturers (OEMs). The company earns money by supplying critical components and fully assembled products in the cardiac, neuromodulation, and vascular segments, among others. Integer's key revenue streams include sales of medical device components like batteries, capacitors, and leads, as well as advanced surgical and orthopedic products. Integer also benefits from strategic partnerships and long-term contracts with major medical device companies, providing a steady and reliable income source. The company's focus on innovation and quality manufacturing processes contributes significantly to its earnings by attracting and retaining a loyal customer base.

Integer Holdings Financial Statement Overview

Summary

Integer Holdings is performing well with strong revenue growth and operational efficiency. The company maintains a solid equity base, but increased leverage requires careful monitoring. Overall, the firm is generating ample cash flow to support its growth, though attention to margin improvements could further enhance financial health.

Income Statement

Integer Holdings demonstrates strong revenue growth with a TTM (Trailing-Twelve-Months) increase from the previous year, indicating a healthy growth trajectory. The gross profit margin remains robust, although net profit margins have declined compared to the previous period, suggesting potential efficiency improvements. EBITDA and EBIT margins are solid, reflecting operational strength despite slight fluctuations in net income.

Balance Sheet

The company's balance sheet shows a stable equity ratio, indicating a solid financial foundation with adequate equity backing its assets. The debt-to-equity ratio has increased, suggesting rising leverage which could pose a risk if not managed carefully. Return on equity remains strong, demonstrating effective use of shareholder funds.

Cash Flow

Integer Holdings exhibits consistent operating cash flow, reflecting healthy cash generation from operations. Free cash flow has grown significantly, supporting further investment opportunities. However, the ratio of operating cash flow to net income is slightly lower, implying room for improvement in converting income into cash.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
1.75B	1.72B	1.60B	1.38B	1.22B	1.07B
	Gross Profit
466.21M	459.01M	418.29M	359.01M	336.97M	285.71M
	EBIT
225.30M	208.24M	167.33M	121.33M	135.71M	120.61M
	EBITDA
282.39M	310.91M	256.51M	215.40M	215.26M	207.56M
	Net Income Common Stockholders
76.90M	119.90M	90.65M	66.38M	96.81M	77.26M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
31.71M	46.54M	23.67M	24.27M	17.89M	49.21M
	Total Assets
3.30B	3.08B	2.94B	2.79B	2.58B	2.37B
	Total Debt
1.35B	1.10B	1.05B	1.01B	897.75M	777.55M
	Net Debt
1.32B	1.06B	1.03B	983.41M	879.87M	728.34M
	Total Liabilities
1.69B	1.46B	1.42B	1.38B	1.23B	1.10B
	Stockholders Equity
1.61B	1.62B	1.52B	1.42B	1.35B	1.27B
Cash Flow		Free Cash Flow
111.49M	99.60M	60.27M	41.65M	103.20M	129.90M
	Operating Cash Flow
213.24M	205.21M	180.21M	116.38M	156.67M	181.34M
	Investing Cash Flow
-224.38M	-195.41M	-163.37M	-200.42M	-271.00M	-56.58M
	Financing Cash Flow
1.60M	13.32M	-18.01M	92.48M	81.99M	-88.58M

Integer Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 120.17
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ITGR, the sentiment is Positive. The current price of 120.17 is above the 20-day moving average (MA) of 119.59, above the 50-day MA of 118.90, and below the 200-day MA of 128.37, indicating a neutral trend. The MACD of -0.26 indicates Positive momentum. The RSI at 50.28 is Neutral, neither overbought nor oversold. The STOCH value of 37.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ITGR.

Integer Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INSP	70 Outperform	$3.94B	63.76	10.86%	―	27.11%	―
ITGR	70 Neutral	$4.18B	57.02	4.98%	―	7.41%	-22.10%
IRTC	64 Neutral	$4.63B	―	-111.13%	―	20.54%	25.73%
LIVN	63 Neutral	$2.37B	30.62	-19.69%	―	7.97%	-592.40%
GKOS	56 Neutral	$5.42B	―	-20.36%	―	23.92%	19.82%
PRCT	56 Neutral	$3.32B	―	-27.62%	―	59.36%	19.87%
Sector *	53 Neutral	$5.25B	3.24	-45.38%	2.81%	16.79%	-0.06%

Integer Holdings Corporate Events

Integer Holdings Stockholders Approve Key Proposals at Annual Meeting

At the Annual Meeting on May 21, 2025, Integer Holdings‘ stockholders approved several key proposals. These included the election of ten directors for a one-year term, the ratification of Deloitte & Touche LLP as the independent auditors for fiscal year 2025, approval of executive compensation on an advisory basis, and an amendment to the company’s Restated Certificate of Incorporation to include an officer exculpation provision. These decisions are expected to impact the company’s governance and operational strategies moving forward.

The most recent analyst rating on (ITGR) stock is a Buy with a $152.00 price target. To see the full list of analyst forecasts on Integer Holdings stock, see the ITGR Stock Forecast page.

Integer Holdings Announces Leadership Transition Plan

Integer Holdings Corporation announced a leadership transition plan where Joseph Dziedzic will retire as President and CEO on October 24, 2025, with Payman Khales, the current COO, succeeding him. Dziedzic will continue as a Special Advisor until March 31, 2026, to ensure a smooth transition. This change is part of Integer’s strategy to maintain its growth trajectory in high-growth markets by focusing on innovation and operational excellence. The transition is expected to strengthen Integer’s market position and continue its financial objectives of above-market organic sales growth.

Integer Holdings Reports Strong Q1 2025 Performance

Integer Holdings Corporation reported a strong start to 2025, with first-quarter sales increasing by 7% to $437 million and a 14% rise in adjusted operating income. Despite a GAAP loss due to debt conversion expenses, the company saw significant growth in its cardio and vascular segment and adjusted net income. Integer completed a $1.0 billion convertible notes offering, which is expected to reduce interest expenses and support future growth, including acquisitions of Precision Coating and VSi Parylene. The company raised its adjusted EPS outlook, reflecting confidence in continued sales and income growth.

Integer Holdings Minimizes Impact of New Tariffs

On April 11, 2025, Integer Holdings Corporation announced that the recent tariffs are expected to have an immaterial impact on its 2025 financial results, estimating an effect of $1 to $5 million on full-year adjusted operating income. The company has implemented and planned mitigation actions to address these tariffs, which were announced by the U.S. on April 2, 2025. This announcement reflects the company’s strategic positioning to manage external economic challenges and maintain its operational stability.

Integer Holdings Closes $1 Billion Notes Offering

On March 18, 2025, Integer Holdings Corporation announced the closing of a $1 billion convertible senior notes offering, which was upsized due to strong investor demand. The transaction is expected to enhance the company’s capitalization structure by creating revolver capacity and reducing interest expenses, making it immediately accretive to 2025 adjusted earnings. The proceeds will be used to pay costs associated with capped call transactions, exchange a portion of existing notes, and repay outstanding borrowings. The offering reflects investor confidence in Integer’s strategy and financial strength, with the capped call transactions mitigating potential dilution of common stock.

Integer Holdings Announces Major Credit Agreement Amendment

On March 12, 2025, Integer Holdings Corporation announced a significant amendment to its credit agreement, allowing the issuance of convertible notes up to $1.5 billion and enabling bond hedge and capped call transactions. This move is part of a strategic financial restructuring, including the launch of a $750 million Convertible Senior Notes Offering due 2030, aimed at refinancing existing debt and potentially impacting the company’s stock market dynamics.