2024-02-14 00:23:23 ET
Summary
- Integer Holdings Corporation's stock has risen over 42% in the past 14+ months despite a previous 'Hold' rating.
- The company's upcoming Q4 earnings report will determine if the recent breakout is sustainable.
- Investors will be looking for a convincing top-line beat and strong forward-looking guidance to nullify concerns about inventory levels.
Intro
We wrote about Integer Holdings Corporation ( ITGR ) in December of 2022 when we assessed if more upside was on the cards for the growing MedTech company. Integer was just off the back of announcing a Q3 earnings beat where the bottom-line reported number could have been better but for some orders being pushed out to the next quarter. However, despite the stock's bullish technicals at the time, we rated Integer a 'Hold' due to its declining EPS estimates as well as a concerning gross-margin print (25.4%) in the third quarter of fiscal 2022. Furthermore, the lack of forward-looking guidance at the time also cast a cloud over the future growth trajectory of Integer. In the end, by essentially ignoring the stock's bullish technicals, we remained neutral in ITGR, rating the stock a hold at the time....
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Integer Holdings: Expecting Upcoming Q4 Earnings To Confirm Breakout