INTEGER HOLDINGS Reports Q2 Financial Results for 2023 Fiscal Year
July 30, 2023
🌥️Earnings Overview
On July 27th, 2023, INTEGER HOLDINGS ($NYSE:ITGR) revealed its second quarter financial results for the 2023 fiscal year, which ended on June 30th. The revenue for the quarter was USD 400.0 million, a 14.3% improvement compared to the same period in the prior year. Additionally, the net income increased from last year by 15.0%, totaling USD 24.0 million.
Market Price
The company’s stock opened at $91.9 and closed at $93.2, a rise of 7.2% from the prior closing price of 87.0. The increase in stock price showed the strong performance by INTEGER HOLDINGS for the quarter. This strong performance was driven by growth in both existing and new customer acquisitions. INTEGER HOLDINGS also reported positive cashflows.
In addition to the increase in revenue, cashflows from operations were up 10%. This news clearly had a positive impact on their stock price, as investors reacted positively to the news. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Integer Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 1.49k | 71.21 | 5.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Integer Holdings. More…
| Operations | Investing | Financing |
| 141.7 | -109.13 | -15.53 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Integer Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.86k | 1.42k | 43.4 |
Key Ratios Snapshot
Some of the financial key ratios for Integer Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.6% | 5.5% | 9.2% |
| FCF Margin | ROE | ROA |
| 2.2% | 6.0% | 3.0% |
Analysis
GoodWhale has conducted an in-depth analysis of the fundamentals of INTEGER HOLDINGS. Our Star Chart shows that the company has a high health score of 8/10, reflecting its strong cash flows and debt management capabilities. We believe that INTEGER HOLDINGS is a type of company we classify as a ‘cheetah’, meaning it has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Given its strong fundamentals, we believe that INTEGER HOLDINGS may be attractive to the following types of investors: value investors, who are looking for a bargain; growth investors, who are looking for companies with potential to grow; and yield investors, who are looking for companies with strong dividend payouts. Looking at the core elements of the company’s fundamentals, INTEGER HOLDINGS is strong in cash flow and debt, medium in growth and profitability, and weak in asset and dividend. Overall, our analysis suggests that the company is well-positioned to weather any crisis without the risk of bankruptcy. More…
Peers
The company designs, develops, manufactures, and markets medical devices and services worldwide. Integer’s competitors in the orthopedics industry include Polynovo Ltd, Globus Medical Inc, and Shenzhen Mindray Bio-Medical Electronics Co Ltd.
– Polynovo Ltd ($ASX:PNV)
Polynovo Ltd is a medical device company that designs, manufactures, and markets biodegradable scaffolds for use in tissue regeneration. The company has a market cap of 1.32B as of 2022 and a Return on Equity of -3.08%. Polynovo’s products are used in a variety of applications, including orthopedics, plastic surgery, and wound care. The company’s products are sold in over 30 countries worldwide.
– Globus Medical Inc ($NYSE:GMED)
Globus Medical Inc is a leading musculoskeletal solutions company. They design, develop, manufacture and market a comprehensive line of products for the orthopedic market. Their products are used in a wide variety of procedures, including spine, hip, and extremities. Globus Medical Inc has a market cap of 7.02B as of 2022, a Return on Equity of 7.24%. Globus Medical is committed to helping improve the quality of life for patients with musculoskeletal disorders. Their products are designed to provide solutions that enable patients to return to their active lifestyles.
– Shenzhen Mindray Bio-Medical Electronics Co Ltd ($SZSE:300760)
Shenzhen Mindray Bio-Medical Electronics Co Ltd is a medical device company that manufactures a range of medical devices and equipment. The company has a market capitalization of $366.53 billion as of 2022 and a return on equity of 23.24%. The company’s products are used in a variety of medical applications, including diagnostics, patient monitoring, and imaging.
Summary
On July 27, 2023, INTEGER HOLDINGS reported solid financial results for the second quarter of the 2023 fiscal year. Revenue was up 14.3% year-over-year to USD 400.0 million, while net income increased by 15.0% to USD 24.0 million. This positive news was reflected in the stock price, as it moved up on the same day.
Given the positive financial performance, INTEGER HOLDINGS appears to be a good investment opportunity for investors looking for growth and stability in the long term. With strong financials and a healthy stock movement, investors should certainly consider adding INTEGER HOLDINGS to their portfolios.
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