Raymond James lowered the firm’s price target on Integer (ITGR) to $95 from $143 and keeps an Outperform rating on the shares after the stock tumbled 32% on news of headwinds from three customers limiting 2026 organic growth to LSD. The update came as a surprise to investors who were already skittish into the print, which actually saw reasonably solid Q3 results, the firm says. Sensitivity to customer confidentiality limits clarity, and Raymond thinks has further hindered the stock. While frustrating, the ...

文章核心观点 - 文章作者在约一年前认为Integer Holdings Corporation的股票在当时已被过度重估[1]

核心财务表现 - 2025年第三季度调整后每股收益为1.79美元，同比增长25.2%，超出市场共识预期6.6% [1] - 当季公认会计准则每股收益为1.11美元，同比增长9.9% [1] - 季度总收入为4.677亿美元，同比增长8.4%，超出市场共识预期0.4%，有机增长率为6.6% [2] 分业务板块收入 - 公司运营分为三个产品线：心脏与血管、心脏节律管理与神经调控、其他市场 [3] - 心脏与血管业务收入为2.771亿美元，同比增长14.9%，有机增长8.5%，主要受电生理学新产品量产等驱动 [5] - 心脏节律管理与神经调控业务收入为1.692亿美元，同比增长2.5%，有机增长2.5% [6] - 其他市场业务收入为2140万美元，同比下降15.5%，但有机增长27.5%，主要受便携医疗业务退出计划影响 [7] 利润率与运营支出 - 季度毛利润为1.262亿美元，同比增长8.2%，毛利率为26.9%，收缩10个基点 [8] - 销售、一般和行政费用为5050万美元，同比增长12.6% [10] - 研发与工程费用为1090万美元，同比下降8.2% [10] - 调整后运营利润为8590万美元，同比增长13.5%，调整后运营利润率为18.3%，扩张80个基点 [10] 财务状况与现金流 - 截至2025年第三季度末，现金及现金等价物为5890万美元，高于第二季度末的2310万美元 [11] - 总债务为11.9亿美元，低于第二季度末的12.4亿美元 [11] - 截至第三季度末，累计经营活动产生的净现金流为1.407亿美元，去年同期为1.419亿美元 [11] 2025年业绩指引 - 公司更新2025年收入预期至18.4亿至18.54亿美元，意味着较2024年报告数据增长7%至8% [12] - 公司预计全年调整后每股收益在6.29至6.43美元之间，意味着较2024年报告数据增长19%至21% [12] 市场反应与前景评论 - 尽管季度业绩强劲，公司股价下跌超过30%，因2026年指引预示收入增长放缓 [9] - 管理层对2026年的指引为收入增长在下降2%至增长2%之间，这一谨慎基调令投资者意外 [13] - 公司预计增长将在2027年反弹，因客户项目和新产品发布将逐步上量 [15] - 公司股价年初至今下跌44.2%，同期行业下跌1.9%，标普500指数上涨14.9% [14]

Integer Holdings Corporation (NYSE:ITGR) reported better-than-expected earnings for the third quarter on Thursday.The company posted quarterly earnings of $1.79 per share which beat the analyst consensus estimate of $1.68 per share. The company reported quarterly sales of $467.691 million which beat the analyst consensus estimate of $466.452 million.“Integer delivered another strong quarter of growth with sales up 8%, adjusted operating income up 14%, and adjusted EPS growth of 25%,” said Joseph Dziedzic, I ...

CANADA - 2025/10/23: In this photo illustration, the Integer Holdings Corporation logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesShares of Integer (NYSE: ITGR), a company specializing in the development and manufacturing of medical devices, saw a substantial decline of 32% on October 23, 2025. This notable drop was mainly due to the company’s updated financial projections for the remainder o ...

We recently published 10 Stocks Slump Amid Wall Street Cheer; 2 Hit Rock Bottom. Integer Holdings Corp. (NYSE:ITGR) is one of the worst performers on Thursday. Integer fell to an all-time low on Thursday, as investors sold off positions after lowering its outlook for full-year 2025 amid headwinds that are expected to similarly impact operations and margins next year. At intra-day trading, the stock dropped to its lowest 52-week price of $66.5 before paring losses to end the day just down by 32.28 percent ...

~ Planned Leadership Transition Completed ~ PLANO, Texas, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading global medical device contract development and manufacturing organization (CDMO), today shared that, as part of a planned transition originally announced in April 2025, Payman Khales has assumed the role of President and Chief Executive Officer. He also joins the company’s Board of Directors. He succeeds Joseph Dziedzic, who is retiring after eight years of disting ...

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Integer (ITGR) came out with quarterly earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +6.55%. A quarter ago, it was expected that this medical device outsource manufacturer would post earnings of $1.57 per share when it actually produced earnings of $1.55, delivering a surprise of -1.27%.Over the last four ...

Integer (NYSE:ITGR) Q3 2025 Earnings Call October 23, 2025 09:00 AM ET Company ParticipantsAndrew Cooper - VP of Equity ResearchJoanne Wuensch - Managing DirectorJoe Dziedzic - President and CEOPayman Khales - President and CEO-electSanjiv Arora - SVP of Strategy, Business Development, and Investor RelationsSuraj Kalia - Managing DirectorTravis Steed - Managing Director and Equity ResearchNathan Treybeck - VP and Equity ResearchDiron Smith - EVP and CFOConference Call ParticipantsBrett Fishman - VP and Seni ...