Integer Holdings (ITGR) AI Stock Analysis

• Market Cap: $4.10B
• Dividend Yield: N/A
• Average Volume (3M): 400.90K
• Price to Earnings (P/E): 55.6
• Beta (1Y): 0.77
• Revenue Growth: 7.41%
• EPS Growth: -22.10%
• Country: US
• Employees: 11,000
• Sector: Healthcare
• Sector Strength: 44
• Industry: Medical - Devices
• EPS (TTM): 1.31
• Shares Outstanding: 34,891,994
• 10 Day Avg. Volume: 327,789
• 30 Day Avg. Volume: 400,897
• PEG Ratio: -1.46
• Price to Book (P/B): 2.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 36.95
• Enterprise Value/Market Cap: 1.32
• Enterprise Value/Revenue: 0.79
• Enterprise Value/Gross Profit: 11.63
• Enterprise Value/Ebitda: 4.47
• 1Y Price Target: $147.83
• Price Target Upside: 28.95% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 71 Outperform
• Price Target: $133.00 ▲(16.02%Upside)

Integer Holdings demonstrates strong financial and operational performance with robust earnings growth and strategic initiatives. However, high valuation and increased leverage pose risks. Technical indicators show neutral momentum, suggesting a balanced outlook.

Positive Factors

Financial Performance

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

Growth Strategy

The acquisition of Precision Coating and VSi Parylene, both high value-added coating operations, is expected to add roughly 3% to revenue growth this year.

Negative Factors

Market Valuation

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

Sales Performance

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

Integer Holdings Business Overview & Revenue Model

Company Description

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through Medical and Non-Medical segments. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures. It also provides cardiac rhythm management products, including implantable pacemakers, implantable cardioverter defibrillators, insertable cardiac monitors, implantable cardiac pacing and defibrillation leads, and heart failure therapies; neuromodulation products, such as implantable spinal cord stimulators; and non-rechargeable batteries, feedthroughs, device enclosures, machined components, and lead components and sub-assemblies. In addition, the company offers rechargeable batteries and chargers; and arthroscopic, laparoscopic, and general surgery devices and components, such as harmonic scalpels, shaver blades, burr shavers, radio frequency probes, biopsy probes, trocars, electrocautery components, wound dressings, GERD treatment components, and phacoemulsification needles. Further, it provides orthopedic products that include instruments used in hip, knee, and spine surgeries, as well as reamers and chisels. Additionally, the company offers customized battery power and power management systems, and battery solutions for the energy, military, and environmental markets. Furthermore, the company provides medical technologies. It serves multi-national original equipment manufacturers and their affiliated subsidiaries in the cardiac, neuromodulation, orthopedics, vascular, and advanced surgical and portable medical markets. Integer Holdings Corporation was founded in 1970 and is headquartered in Plano, Texas.

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 showing strong revenue growth and operational efficiency. However, increased leverage requires monitoring. Ample cash flow supports growth, although margin improvements are needed for enhanced 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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.72B	1.60B	1.38B	1.22B	1.07B
Gross Profit	459.01M	418.29M	359.01M	336.97M	285.71M
EBITDA	310.91M	256.51M	215.40M	215.26M	207.56M
Net Income	119.90M	90.65M	66.38M	96.81M	77.26M
Balance Sheet
Total Assets	3.08B	2.94B	2.79B	2.58B	2.37B
Cash, Cash Equivalents and Short-Term Investments	46.54M	23.67M	24.27M	17.89M	49.21M
Total Debt	1.10B	1.05B	1.01B	897.75M	777.55M
Total Liabilities	1.46B	1.42B	1.38B	1.23B	1.10B
Stockholders Equity	1.62B	1.52B	1.42B	1.35B	1.27B
Cash Flow
Free Cash Flow	99.60M	60.27M	41.65M	103.20M	129.90M
Operating Cash Flow	205.21M	180.21M	116.38M	156.67M	181.34M
Investing Cash Flow	-195.41M	-163.37M	-200.42M	-271.00M	-56.58M
Financing Cash Flow	13.32M	-18.01M	92.48M	81.99M	-88.58M

Integer Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 114.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ITGR, the sentiment is Negative. The current price of 114.64 is below the 20-day moving average (MA) of 119.70, below the 50-day MA of 119.74, and below the 200-day MA of 127.39, indicating a bearish trend. The MACD of -0.75 indicates Positive momentum. The RSI at 35.81 is Neutral, neither overbought nor oversold. The STOCH value of 11.87 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ITGR.

Integer Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ITGR	71 Outperform	$4.10B	55.58	4.98%	―	7.41%	-22.10%
INSP	67 Neutral	$3.76B	58.97	10.86%	―	27.11%	―
LIVN	61 Neutral	$2.37B	30.62	-19.69%	―	7.97%	-592.40%
PRCT	56 Neutral	$3.21B	―	-27.62%	―	59.36%	19.87%
GKOS	54 Neutral	$5.61B	―	-20.36%	―	23.92%	19.82%
Sector *	52 Neutral	$7.47B	-0.04	-63.86%	2.34%	16.17%	0.25%
IRTC	46 Neutral	$4.28B	―	-111.13%	―	20.54%	25.73%

Integer Holdings Corporate Events

Integer Holdings Expands Board with Michael J. Coyle

On July 10, 2025, Integer Holdings Corporation announced the election of Michael J. Coyle to its Board of Directors, expanding the board to 11 members. Coyle, with over 40 years of leadership experience in the medical device industry, will serve on several committees and contribute to Integer’s strategic initiatives and growth. His extensive background, including roles at iRhythm Technologies and Medtronic, is expected to bolster Integer’s position as a partner of choice for innovative medical technologies, enhancing its contract development and manufacturing outsourcing strategy.

The most recent analyst rating on (ITGR) stock is a Buy with a $135.00 price target. To see the full list of analyst forecasts on Integer Holdings stock, see the ITGR Stock Forecast page.

Integer Holdings Announces Convertible Notes Conversion Option

On July 2, 2025, Integer Holdings Corporation announced that its 2.125% Convertible Senior Notes due 2028 are now convertible at the holders’ option during the calendar quarter ending September 30, 2025. This conversion option was triggered as the company’s stock price exceeded 130% of the conversion price for at least 20 trading days in a 30-day period ending June 30, 2025. The notes can be converted into cash, shares of common stock, or a combination thereof, depending on the company’s choice. This announcement could impact the company’s financial strategy and market positioning, as it allows note holders to convert their notes into equity, potentially affecting the company’s stock liquidity and capital structure.

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 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.