Integer Holdings Corporation ITGR is well poised for growth on portfolio management, strong presence in the broader MedTech space and improving Non-Medical sales.
The stock currently sports a Zacks Rank #1 (Strong Buy).
Shares of Integer Holdings have gained 19.8%, against the industry’s decline of 2.3% in a year’s time. The stock also outpaced the S&P 500 Index’s rally of 1.8%.
What’s Favoring the Stock?
Integer Holdings has introduced a new approach to drive sales and profit growth, following a comprehensive strategic review of the business. The company’s new strategy has two overarching themes that are focused on portfolio management and operational excellence. This will help the company to realize its vision of enhancing patient lives.
On the basis of consistent efforts to simplify operations, Integer Holdings has been exhibiting profitability since the last couple of quarters.
Management also announced that the company has been witnessing revenue growth faster than markets and profit growth that is twice the rate of revenue growth.
Further, the company continues to gain from its strong foothold in the broader MedTech space. This in turn will help in accelerating the company’s overall performance.
Moreover, the company has witnessed improvement in Non-Medical sales and anticipates to witness growth in the second half of 2019 primarily on the back of new customers, products and renewed military funding.
Additionally, an upbeat outlook for 2019 and expansion in operating margin buoy optimism on the stock.
Which Way are Estimates Headed?
For 2019, the Zacks Consensus Estimate for revenues is pegged at $1.28 billion, indicating a decline of 2% from the year-ago quarter. The same for earnings stands at $4.30, suggesting growth of 13.2% from the year-ago reported figure.
Other Key Picks
Some other top-ranked stocks from the broader medical space are Cardiovascular Systems, Inc. CSII, Quidel Corporation QDEL and Heamonetics Corporation HAE, each currently sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cardiovascular Systems has an earnings growth rate of 33.3% for the fourth quarter of fiscal 2019.
Quidel Corporation has a long-term earnings growth rate of 25%.
Heamonetics has a long-term earnings growth rate of 13.5%.
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Integer Holdings Corporation (ITGR) : Free Stock Analysis Report
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