Welcome to our dedicated page for Integer Hldgs news (Ticker: ITGR), a resource for investors and traders seeking the latest updates and insights on Integer Hldgs stock.
Integer Holdings Corporation (NYSE: ITGR) is a medical device contract development and manufacturing organization (CDMO) that regularly issues news on its operations, financial performance, and corporate developments. The company focuses on serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets, and its updates reflect activity across these areas.
On this page, readers can follow ITGR news related to quarterly earnings, product line performance, and outlooks that Integer provides through press releases furnished with Form 8-K filings. These releases often include discussions of sales trends in Cardio & Vascular, Cardiac Rhythm Management & Neuromodulation, and Other Markets, along with non-GAAP financial measures such as adjusted operating income, adjusted EBITDA, adjusted net income, and adjusted earnings per share.
Integer’s news flow also covers strategic and governance events, such as leadership transitions, board appointments, and capital allocation decisions. Recent examples include the appointment of a new President and Chief Executive Officer, the election of a new director with extensive medical device industry experience, and the authorization of a share repurchase program by the Board of Directors.
In addition, Integer publishes updates on technology and market-facing activities, such as participation in medical society meetings and healthcare investor conferences. The company has highlighted innovations in neuromodulation and miniaturized active implantable medical devices, including high-performance batteries and integrated implantable pulse generator and lead systems, as well as its Xcellion Gen 3 fast charge lithium ion battery technology.
Investors and observers can use this news page to monitor how Integer communicates its strategy, product line dynamics, financing actions, and role as a CDMO in the cardiac rhythm management, neuromodulation, and cardio and vascular markets.
Integer Holdings (NYSE: ITGR) announced key leadership changes effective Q1 2025. Payman Khales, current President of Cardio & Vascular, will become Chief Operating Officer, overseeing both product categories along with Global Operations and Manufacturing Strategy. Andrew Senn will succeed Khales as President of Cardio & Vascular. Under Khales' leadership since 2018, the Cardio & Vascular business achieved above-market growth. Senn brings 18 years of experience at Integer and extensive industry knowledge from various leadership roles.
Integer Holdings (NYSE:ITGR) reported strong Q3 2024 results with sales increasing 9% to $431 million, including 4% organic growth. GAAP income from continuing operations rose 29% to $36 million, while non-GAAP adjusted net income grew 14% to $50 million. The company raised its 2024 outlook, expecting sales growth of 10-11% with organic growth of 7-8%. The planned sale of Electrochem business for $50 million remains on track. Year-to-date sales increased 10% to $1.267 billion, with adjusted EBITDA up 22% to $266 million. Total debt stood at $1.079 billion with a leverage ratio of 3.0x adjusted EBITDA.
Integer Holdings (NYSE: ITGR) has announced that holders of its 2.125% Convertible Senior Notes due 2028 can now convert their notes into cash and/or shares of the company's common stock. The conversion period is from October 1, 2024, to December 31, 2024. This option became available because the company's stock price exceeded 130% of the conversion price for at least 20 trading days in the 30-day period ending September 30, 2024.
The notes are convertible at a rate of 11.4681 shares of common stock per $1,000 principal amount, equivalent to a conversion price of approximately $87.20 per share. Integer will pay cash up to the principal amount of the notes converted, with any excess paid in cash, shares, or a combination at the company's discretion. Detailed conversion procedures have been provided to noteholders through The Depository Trust Company and Wilmington Trust, National Association.
Integer Holdings (NYSE: ITGR) has announced an agreement to divest its Electrochem business to Ultralife (NASDAQ: ULBI) for $50 million in cash. This divestiture transforms Integer into a pure-play medical technology company. The transaction is expected to close by the end of October, subject to customary working capital adjustments.
Key points:
- Electrochem focuses on non-medical applications for energy, military, and environmental sectors
- Integer will report Electrochem's results as part of discontinued operations
- Proceeds will be used to pay down debt and for general corporate purposes
- The transaction is expected to be neutral to EPS
- 2024 full-year guidance for the non-medical segment included $36 million in sales and $5 million in Adjusted EBITDA
Integer Holdings (NYSE:ITGR) has announced its schedule for the release of third quarter 2024 financial and operational results. The company plans to disclose these results on Thursday, October 24, 2024, at 7 a.m. Central Time (CT) / 8 a.m. Eastern Time (ET).
Following the release, Integer's management will host a webcast at 8 a.m. CT / 9 a.m. ET to discuss the quarterly results. This announcement provides investors and analysts with a clear timeline for accessing and analyzing the company's latest financial performance data.
Integer Holdings (NYSE: ITGR) has completed two facility expansions in Ireland, reinforcing its commitment to the region's medical device sector. The company officially opened a new $30 million, 67,000 sq. ft. European medical device innovation and manufacturing center in Galway on Sept. 20, 2024. This follows the opening of an 80,000 sq. ft. expansion of its guidewire manufacturing facility in New Ross, County Wexford, earlier in the month.
These expansions, combined with the $140 million acquisition of Aran Biomedical in Spiddal in 2022, represent significant investments in Integer's Irish operations. The company has increased its manufacturing capacity in New Ross by over 70% and plans to grow its workforce in Galway by 100-200 employees in the coming years. Integer currently employs more than 1,700 people in Ireland.
Integer Holdings (NYSE: ITGR), a prominent medical device contract development and manufacturing organization (CDMO), has announced its participation in the Wells Fargo 2024 Healthcare Conference. The event is scheduled for September 4-6, 2024, in Boston.
Joseph Dziedzic, Integer's President and CEO, will deliver a presentation on Wednesday, September 4, at 2:15 pm EDT. Investors and interested parties can access a live webcast of the presentation through the 'News & Events' section of Integer's Investor Relations website at investor.integer.net.
This conference participation highlights Integer's commitment to engaging with the investment community and showcasing its position in the medical device manufacturing sector.
Integer Holdings (NYSE: ITGR), a global medical device CDMO, has released its first ESG report titled 'Making a Difference: Integer's Inaugural Impact Report'. The report showcases Integer's commitment to minimizing environmental impact while advancing medical device technology and positively impacting associates, partners, patients, and communities worldwide.
Key highlights include efforts in health and safety, diversity and inclusion, associate engagement, charitable initiatives, and volunteerism. With over 11,000 associates across four continents, Integer aims to make a significant difference in patients' lives globally. The report outlines the company's strategy, approach, and progress in ESG areas, demonstrating its dedication to sustainable and responsible business practices.
Integer Holdings (NYSE:ITGR) reported strong second quarter 2024 results, with sales increasing 9% to $436 million and organic growth of 5%. GAAP net income rose 30% to $31 million, while non-GAAP adjusted net income increased 17% to $45 million. The company's GAAP diluted EPS grew to $0.88 per share, and non-GAAP adjusted EPS reached $1.30 per share.
Integer's president and CEO, Joseph Dziedzic, highlighted the company's successful strategy execution, with expectations of 9% to 11% above-market sales growth for 2024. The company has raised its full-year adjusted operating income growth outlook to 14% to 21%. Notable product line performances include an 11% increase in Cardio & Vascular sales and a 9% rise in Cardiac Rhythm Management & Neuromodulation sales.
Integer Holdings (NYSE: ITGR) has announced that its 2.125% Convertible Senior Notes due 2028 are now convertible from July 1, 2024, to September 30, 2024. The notes can be converted into cash, shares of Integer's common stock, or a combination of both, at a conversion rate of 11.4681 shares per $1,000 principal amount, equivalent to $87.20 per share.
Additionally, Integer has amended its credit agreement, increasing its revolving credit facility by $300 million, bringing the total to $800 million. This move aims to enhance the company's liquidity, supporting its long-term strategic objectives while maintaining a debt leverage target of 2.5 to 3.5.
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