LOS ANGELES, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Integer Holdings Corporation (“Integer” or “the Company”) (NYSE: ITGR) for potential breaches of fiduciary duty on the part of its directors and management.
INVESTIGATION DETAILS: The investigation focuses on determining if the Integer board breached its fiduciary duties to shareholders. The Company announced on August 3, 2026, that it would be acquired by KKR at a price of $127 per share.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected]
WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
Schall, Brown & Schwartz LLP
Brian Schall, Esq.,
Andrew Brown, Esq.,
David Schwartz, Esq.,
www.schallfirm.com
Office: 310-301-3335 [email protected]
ITGR Stock Alert: Halper Sadeh LLC is Investigating Whether Integer Holdings Corporation is Obtaining a Fair Price for its Shareholders Halper Sadeh LLC, an investor rights law firm, is investigating the sale of Integer Holdings Corporation (NYSE: ITGR) to KKR for $127.00 per share.
Halper Sadeh encourages Integer shareholders to click here to learn more about their rights and optionsor contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected].
The investigation concerns whether Integer and its board of directors violated the federal securities laws and/or breached their fiduciary duties by failing to: (1) obtain the best possible price for Integer shareholders; (2) conduct a fair sales process free of any conflicts of interests; and (3) disclose all material information for Integer shareholders to evaluate the transaction.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260905640274/en/
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating the sale of Integer Holdings Corporation (NYSE: ITGR) to KKR for $127.00 per share.Halper Sadeh encourages Integer shareholders to click here to learn more about their rights and options or contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected] investigation concerns whether Integer and its board of directors violated the federal secu.
LOS ANGELES--(BUSINESS WIRE)--The DJS Law Group announces that it is investigating claims on behalf of investors of Integer Holdings Corporation (“Integer” or “the Company”) (NYSE: ITGR) for potential breaches of fiduciary duty on the part of its directors and management.
INVESTIGATION DETAILS: The investigation focuses on whether the Integer board breached its fiduciary duties to investors.
If you are a shareholder who suffered a loss, contact us to participate.
WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Integer Holdings Corporation (“Integer” or “the Company”) (NYSE: ITGR) for potential breaches of fiduciary duty on the part of its directors and management.
INVESTIGATION DETAILS: The investigation focuses on determining if the Integer board breached its fiduciary duties to shareholders. The Company announced on August 3, 2026, that it would be acquired by KKR at a price of $127 per share.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected]
WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260823711418/en/
LOS ANGELES--(BUSINESS WIRE)--Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Integer Holdings Corporation (“Integer” or “the Company”) (NYSE: ITGR) for potential breaches of fiduciary duty on the part of its directors and management.
INVESTIGATION DETAILS: The investigation focuses on determining if the Integer board breached its fiduciary duties to shareholders. The Company announced on August 3, 2026, that it would be acquired by KKR at a price of $127 per share.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected]
WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
PHILADELPHIA--(BUSINESS WIRE)---- $ITGR #ITGR--Kaskela Law is currently investigating the adequacy of the Integer Holdings Corporation (NYSE: ITGR) (“Integer” or the “Company”) shareholder buyout proposal to determine whether the Company's investors may be able to obtain a higher price for their shares. Click here for additional information: https://kaskelalaw.com/case/integer-holdings/ On August 3, 2026, Integer announced that it had agreed to be acquired by funds affiliated with private equity firm KKR &.
Key Takeaways Integer Holdings' Q2 adjusted EPS rose 3.2% to $1.60, while revenues fell 2.6% to $464.1M.C&V sales declined 2.3%, while CRM&N revenues rose 1% despite product-related headwinds.Integer Holdings withdrew its 2026 outlook after agreeing to KKR's $127-per-share cash acquisition. Integer Holdings Corporation (ITGR - Free Report) delivered adjusted earnings per share (EPS) of $1.60 in the second quarter of 2026, up 3.2% year over year. The figure beat the Zacks Consensus Estimate by 15.9%.
The adjustments include expenses related to the amortization of intangible assets and restructuring and restructuring-related charges, among others.
GAAP EPS for the quarter was 69 cents, down 33.7 % from the prior-year quarter.
ITGR’s Revenues in DetailInteger Holdings registered revenues of $464.1 million in the second quarter, down 2.6% year over year. However, the figure topped the Zacks Consensus Estimate by 2.2%.
Organically, revenues decreased 1.5%.
Integer Holdings’ Q1 Segmental AnalysisInteger Holdings operates through three product lines — Cardio and Vascular (C&V); Cardiac Rhythm Management & Neuromodulation (CRM&N) and Other Markets.
In the second quarter of 2026, the C&V product line generated revenues of $280.3 million, down 2.3% year over year. Organically, sales declined 2.5%. The decrease primarily reflected the previously communicated impact from two new Electrophysiology products.
The CRM&N product line reported revenues of $173.7 million, up 1% year over year. Organic sales also increased 1%. Growth in the product line was partially offset by the previously communicated impact from one new Neuromodulation product.
Revenues from Other Markets totaled $10.1 million, down 42.8% from $17.6 million in the prior-year quarter. Organically, sales declined 13.5%. The sharp reported decrease primarily reflected Integer Holdings’ strategic exit from the Portable Medical business.
ITGR’s Margin AnalysisInteger Holdings generated a gross profit of $112.9 million in the second quarter, down 12.6% year over year. The gross margin in the reported quarter contracted about 280 basis points (bps) to 24.3% from 27.1% in the prior-year period.
Selling, general and administrative expenses were $57.7 million, up 9% year over year. Research, development and engineering costs were $11.3 million in the quarter, down 20.8% year over year. Total operating expenses of $78.4 million increased 12.3% year over year.
Adjusted operating profit totaled $73 million, reflecting a decline of 10.2% from the prior-year quarter. Adjusted operating margin in the second quarter contracted about 130 bps to 15.7% from 17.1% a year ago.
Integer Holdings’ Financial PositionInteger Holdings exited the second quarter of 2026 with cash and cash equivalents of $21.4 million compared with $8.1 million at the first-quarter end. Total debt (including the current portion) at the end of second-quarter 2026 was $1.24 billion, down from $1.25 billion at the end of the first quarter.
Cumulative cash flow from operating activities at the end of second-quarter 2026 was $84.4 million compared with $75.1 million a year ago.
Integer Holdings’ KKR Deal Reshapes the OutlookInteger Holdings and KKR separately announced a definitive agreement under which an affiliate of KKR-managed investment funds will acquire all outstanding Integer shares for $127 per share in cash. The transaction carries an enterprise value of $5.7 billion.
Given the pending transaction, Integer Holdings withdrew its previously issued financial outlook. The company also canceled its previously scheduled second-quarter earnings conference call and webcast.
Wrapping UpInteger Holdings exited the second quarter of 2026 with a mixed performance. Revenues declined year over year, reflecting continued pressure from previously communicated product-related headwinds and the strategic exit from Portable Medical. However, adjusted EPS increased 3.2%, supported by a relatively stable adjusted net income despite the softer top line.
On the product-line front, performance remained uneven. Cardio & Vascular sales declined as two new Electrophysiology products continued to weigh on results, while Cardiac Rhythm Management & Neuromodulation posted modest growth despite the impact from one new Neuromodulation product. Profitability also remained under pressure, with adjusted operating income declining 10.2% and gross margin contracting year over year. Still, operating cash flow for the first six months improved to $84.4 million from $75.1 million a year ago.
The company withdrew its previously issued 2026 financial outlook in light of the pending acquisition. Integer Holdings and KKR announced a definitive agreement under which an affiliate of KKR-managed investment funds will acquire all outstanding shares of ITGR for $127 per share in cash, valuing the transaction at an enterprise value of $5.7 billion.The transaction is expected to close by the end of 2026.
Integer Holdings’ Zacks Rank & Key PicksInteger Holdings currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are McKesson (MCK - Free Report) , Phibro Animal Health (PAHC - Free Report) andCardinal Health (CAH - Free Report) .
McKesson carries a Zacks Rank #2 (Buy) at present and has an estimated long-term growth rate of 13.7%. MCK’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.09%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
McKessonshares have gained 8.8% against the industry’s 12.7% decline in the year-to-date period.
Phibro Animal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 21.5%. PAHC’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 16.25%.
Phibro Animal Health stock has climbed 44.2% against the industry’s 17.1% decline in the year-to-date period.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 17%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 10.27%.
Cardinal Health’s shares have lost 2.6% compared with the industry’s 3.1% decline in the year-to-date period.
California State Teachers Retirement System raised its position in Integer Holdings Corporation (NYSE:ITGR – Free Report) by 22.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,792 shares of the medical equipment provider’s stock after buying an additional 7,356 shares during the period. California State Teachers Retirement System owned about 0.12% of Integer worth $3,590,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Integer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,886,150 shares of the medical equipment provider’s stock worth $304,791,000 after acquiring an additional 14,465 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Integer by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider’s stock valued at $130,620,000 after buying an additional 90,277 shares in the last quarter. State Street Corp raised its holdings in shares of Integer by 3.7% in the 4th quarter. State Street Corp now owns 1,371,767 shares of the medical equipment provider’s stock valued at $107,588,000 after buying an additional 48,463 shares during the period. Viking Global Investors LP raised its holdings in shares of Integer by 9.1% in the 2nd quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider’s stock valued at $157,889,000 after buying an additional 106,692 shares during the period. Finally, Irenic Capital Management LP acquired a new position in Integer during the 4th quarter worth about $99,109,000. Institutional investors and hedge funds own 99.29% of the company’s stock.
Integer Stock Performance Shares of ITGR opened at $125.06 on Friday. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 2.99 and a beta of 0.61. Integer Holdings Corporation has a 52-week low of $62.00 and a 52-week high of $126.14. The company has a quick ratio of 2.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $97.41 and a 200 day moving average price of $90.37.
Integer (NYSE:ITGR – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.22. Integer had a net margin of 6.97% and a return on equity of 12.79%. The company had revenue of $464.11 million for the quarter, compared to analysts’ expectations of $451.07 million. During the same quarter last year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts predict that Integer Holdings Corporation will post 6.04 EPS for the current fiscal year.
Analyst Upgrades and Downgrades ITGR has been the subject of several research reports. Wells Fargo & Company lifted their target price on Integer from $84.00 to $127.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Citigroup raised their price objective on shares of Integer from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Freedom Capital cut shares of Integer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of Integer in a report on Thursday, June 18th. Finally, KeyCorp downgraded shares of Integer from an “overweight” rating to a “sector weight” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $109.86.
Check Out Our Latest Report on Integer
About Integer (Free Report)
Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.
Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.
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Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of [url="]Kahn Swick and Foti[/url], LLC (âKSFâ) are investigating the propos
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Integer Holdings Corporation (NYSE: ITGR) to KKR. Under the terms of the proposed transaction, shareholders of Integer will receive $127.00 in cash for each share of Integer that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at (833) 538-3612, or visit https://www.ksfcounsel.com/cases/nyse-itgr/ to learn more.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.
The proposed transactions may contain terms that could limit superior competing offers.
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:
Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN)'s sale to Indivior Pharmaceuticals, Inc. for 1.5401 common shares of Indivior for each share of Supernus. If you are a Supernus shareholder, click here to learn more about your rights and options.
Integer Holdings Corporation (NYSE: ITGR)'s sale to KKR for $127.00 per share. If you are an Integer shareholder, click here to learn more about your rights and options.
Atkore Inc. (NYSE: ATKR)'s sale to Prysmian S.p.A. for $95.00 per share in cash. If you are an Atkore shareholder, click here to learn more about your rights and options.
Lantheus Holdings, Inc. (NASDAQ: LNTH)'s sale to Curium US Holdings LLC for $102.50 per share in cash, plus non-transferable Contingent Value Rights providing for up to $12.00 per share in potential additional cash payments, subject to achievement of specified commercial milestones for Lantheus' products through 2030. If you are a Lantheus shareholder, click here to learn more about your rights and options.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
Daniel Sadeh, Esq.
Zachary Halper, Esq.
One World Trade Center
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(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com
, /PRNewswire/ -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2025 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Integer Holdings Corporation (NYSE: ITGR) related to its sale to KKR. Under the terms of the proposed transaction, Integer shareholders are expected to receive $127.00 per share in cash. Is it a fair deal?
Click here for more info https://monteverdelaw.com/case/integer-holdings-corporation/. It is free and there is no cost or obligation to you.
NOT ALL LAW FIRMS ARE EQUAL. Before you hire a law firm, you should talk to a lawyer and ask:
Do you file class actions and go to Court? When was the last time you recovered money for shareholders? What cases did you recover money in and how much? About Monteverde & Associates PC
Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.
No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.
Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341
Attorney Advertising. (C) 2026 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating the sale of Integer Holdings Corporation (NYSE: ITGR) to KKR for $127.00 per share.Halper Sadeh encourages Integer shareholders to click here to learn more about their rights and options or contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected] investigation concerns whether Integer and its board of directors violated the federal secu.
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MILWAUKEE, Aug. 3, 2026 /PRNewswire/ -- Ademi LLP is investigating Integer (NYSE: ITGR) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with KKR.
Click here to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995. There is no cost or obligation to you.
Integer shareholders will receive $127 per share in an all-cash transaction valued at approximately $5.7 billion in enterprise value. Integer insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Integer by imposing a significant penalty if Integer accepts a competing bid. We are investigating the conduct of the Integer board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Integer (ITGR - Free Report) came out with quarterly earnings of $1.6 per share, beating the Zacks Consensus Estimate of $1.38 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +15.94%. A quarter ago, it was expected that this medical device outsource manufacturer would post earnings of $1.21 per share when it actually produced earnings of $1.2, delivering a surprise of -0.83%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Integer, which belongs to the Zacks Medical - Instruments industry, posted revenues of $464.11 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.58%. This compares to year-ago revenues of $476.49 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Integer shares have added about 54.5% since the beginning of the year versus the S&P 500's gain of 9.4%.
What's Next for Integer?While Integer has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Integer was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.66 on $458.79 million in revenues for the coming quarter and $6.04 on $1.82 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Sight Sciences, Inc. (SGHT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +34.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Sight Sciences, Inc.'s revenues are expected to be $21.75 million, up 11.2% from the year-ago quarter.
San Diego, California--(Newsfile Corp. - August 3, 2026) - Johnson Fistel, PLLP is investigating the proposed acquisition of Integer Holdings Corporation (NYSE: ITGR) to determine whether the transaction is fair to shareholders.
CLICK Here to Join the Investigation
For more information, contact Jim Baker at [email protected] or (619) 814-4471.
There is no cost or obligation to you.
On August 3, 2026, Integer Holdings announced that it had entered into a definitive agreement to be acquired by KKR in an all-cash transaction. Under the terms of the agreement, Integer stockholders will receive $127.00 in cash for each share of Integer common stock they own.
Johnson Fistel is investigating whether the consideration being offered adequately compensates Integer stockholders and whether the Company's Board of Directors satisfied its fiduciary duties by pursuing and approving the transaction. The investigation includes, among other things, whether the sales process was designed to maximize stockholder value, whether all material information will be disclosed to stockholders before they vote on the merger, and whether potential conflicts of interest or other factors may have affected the Board's decision-making process.
If you are a shareholder of Integer Holdings and believe the proposed merger undervalues the Company, or if you would like additional information regarding your legal rights, you are encouraged to contact Johnson Fistel to discuss the investigation.
About Johnson Fistel, PLLP | Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder litigation involving securities fraud, breaches of fiduciary duties, and other violations of state and federal law.
Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors.
Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson.
Contact
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations - or - Frank J. Johnson, Esq.
(619) 814-4471 [email protected] | [email protected]
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Integer (ITGR - Free Report) reported $464.11 million in revenue for the quarter ended June 2026, representing a year-over-year decline of 2.6%. EPS of $1.60 for the same period compares to $1.55 a year ago.
The reported revenue represents a surprise of +2.58% over the Zacks Consensus Estimate of $452.46 million. With the consensus EPS estimate being $1.38, the EPS surprise was +15.94%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Integer performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Medical Sales- Other Markets: $10.09 million versus $9.91 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -42.8% change.Sales- Medical Sales- Cardio & Vascular: $280.31 million versus the four-analyst average estimate of $275.13 million. The reported number represents a year-over-year change of -2.3%.Sales- Medical Sales- Cardiac Rhythm Management & Neuromodulation: $173.71 million versus the four-analyst average estimate of $169.27 million. The reported number represents a year-over-year change of +1%.View all Key Company Metrics for Integer here>>>
Shares of Integer have returned +27.4% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Integer (ITGR) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
~ Transaction to Advance Integer’s Innovation and Growth in Support of Customers and Patients ~
PLANO, Texas and NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR) (“Integer” or the “Company”), a leading global medical device contract development and manufacturing organization (CDMO), and KKR, a leading global investment firm, today announced that they have entered into a definitive agreement under which an affiliate of investment funds managed by KKR will acquire all of the outstanding shares of Integer in an all-cash transaction valued at an enterprise value of approximately $5.7 billion.
Under the terms of the agreement, Integer stockholders will receive $127 per share, representing a premium of approximately 51.8% to Integer’s closing share price on April 29, 2026, the date prior to the Company’s announcement of a strategic review, and 28.8% to the 30-day VWAP as of July 31, 2026.
“This is an exciting milestone for Integer and a testament to the dedication and commitment of our talented team and the exceptional business we have built together,” said Payman Khales, Integer’s President and CEO. “We believe this transaction recognizes the strength of Integer’s business, which includes our dedicated associates, our differentiated engineering and manufacturing capabilities, and our long-term growth opportunities, while providing stockholders with immediate and certain value. KKR’s deep healthcare expertise, long-term vision, and strategic growth orientation make them the right strategic partner to bring our business into its next chapter. Together, we look forward to continuing to invest in our associates and capabilities to deliver excellence for our customers and advance our vision of improving patients’ lives.”
“Integer is an exceptional platform with highly differentiated capabilities across a global manufacturing footprint, a track record for quality and reliability, and a talented team operating in attractive, durable end-markets,” said Max Lin, Partner at KKR. “We are excited by the opportunity to deploy capital and resources to further advance Integer’s next chapter of growth and innovation. We look forward to partnering with the management team and the 11,000 associates to build on Integer’s position as a trusted strategic partner to leading medical device companies and emerging innovators, helping bring life-saving and life-enhancing technologies to patients around the globe.”
As a KKR portfolio company, Integer will have additional flexibility and long-term capital to invest in capacity, technology, innovation, and talent in support of its customers and the patients who rely on the products Integer helps bring to market. KKR intends to establish a broad-based employee ownership and engagement program at Integer following the close of the transaction, consistent with its longstanding approach of fostering an ownership culture and extending ownership to employees across its portfolio. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 200,000 non-senior management employees across more than 90 companies.
Transaction Details
The definitive agreement follows the comprehensive strategic review announced by Integer on April 30, 2026. In consultation with management and its financial and legal advisors, the Integer Board considered a range of potential alternatives to ensure the Company is best positioned for continued success and to maximize stockholder value. The Board determined that the transaction with KKR represents the best path forward for Integer and delivers immediate and certain value to its stockholders.
The transaction is expected to close by the end of the year, subject to the satisfaction of customary closing conditions, including approval by Integer stockholders and the receipt of required regulatory approvals. The Integer Board has unanimously approved the agreement and recommends that Integer stockholders vote their shares to approve the transaction and adopt the merger agreement. This transaction is not subject to any financing contingency.
KKR will make its investment in Integer through its core private equity strategy and finance the transaction through a combination of equity provided by investment funds managed by KKR and committed debt financing.
Upon completion of the transaction, Integer will become a privately held company and Integer’s common stock will no longer be listed on the New York Stock Exchange.
Integer Second Quarter 2026 Results
In a separate press release issued today, Integer reported second quarter 2026 financial results. Given the pending transaction with KKR, Integer is withdrawing its previously issued financial outlook and will not host its earnings conference call and webcast that has been scheduled for Thursday, August 6, 2026.
That press release, along with other investor materials, including reconciliations of certain non-GAAP measures to their nearest GAAP measures, will be available on investor.integer.net.
Advisors
Goldman Sachs & Co. LLC is serving as Integer’s exclusive financial advisor and Davis Polk & Wardwell LLP is serving as legal advisor. Centerview Partners, Barclays, Citi, and Raymond James are serving as financial advisors to KKR. Kirkland & Ellis LLP is serving as legal advisor to KKR. Citi, KKR Capital Markets, Barclays, UBS and Jefferies will act as lead arrangers for the debt financing in connection with the transaction.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Contacts
Integer
Media Relations:
Misty Tippen [email protected]
469-536-6702
Cautionary Statement Regarding Forward-Looking Statements
Some of the statements contained in this communication and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they are “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: our goals, plans, and strategic initiatives; long-term growth prospects; maximizing value for our stockholders; and other events, conditions or developments that will or may occur in the future; and timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this communication.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements regarding the transactions contemplated by the Agreement and Plan of Merger, by and among the Company, Armstrong Parent, Inc. (“Buyer”) and Armstrong Bidco, Inc. (the “Transaction”). All such forward-looking statements are based upon current plans, estimates, expectations, opportunities and ambitions that are subject to risks, uncertainties, assumptions, and other important factors, many of which are beyond the control of the Company, that could cause actual results to differ materially from those expressed in such forward-looking statements. Key factors that could cause actual results to differ materially include, but are not limited to, the expected timing and likelihood of completion of the Transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals; the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction; the possibility that the Company’s stockholders may not approve the Transaction; the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Transaction; the risk that any announcements relating to the Transaction could have adverse effects on the market price of the Company’s common stock; the risk that the Transaction and its announcement could have an adverse effect on the parties’ business relationships and business generally, including the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers, and on their operating results and businesses generally; the risk of unforeseen or unknown liabilities; customer, stockholder, regulatory and other stakeholder approvals and support; the risk of unexpected future capital expenditures; the risk of potential litigation relating to the Transaction that could be instituted against the Company or its directors and/or officers; the risk associated with third-party contracts containing material consent, anti-assignment, transfer or other provisions that may be related to the Transaction which are not waived or otherwise satisfactorily resolved; significant costs, or expenses incurred in connection with the Transaction; the Buyer’s ability to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; certain restrictions contained in the Agreement and Plan of Merger that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; the risk of various events that could disrupt operations, including pandemics, epidemics or other public health crises or severe weather (such as droughts, floods, avalanches and earthquakes), cybersecurity attacks, security threats and governmental response to them, and technological changes; the risks of labor disputes, changes in labor costs and labor difficulties; and the risks resulting from other effects of industry, market, economic, legal or legislative, political or regulatory conditions outside of the Company’s control. All such factors are difficult to predict and are beyond our control, including those detailed in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the Securities Exchange Commission (the “SEC”) on February 23, 2026 (the “Form 10-K”), quarterly reports on Form 10-Q and other documents subsequently filed by the Company with the SEC. The Company’s forward-looking statements are based on assumptions that the Company believes to be reasonable but that may not prove to be accurate. Other unpredictable or factors not discussed in this communication could also have material adverse effects on forward-looking statements. The Company does not assume an obligation to update any forward-looking statements, except as required by applicable law. These forward-looking statements speak only as of the date hereof.
Additional Information and Where to Find It
In connection with the Transaction, the Company will file with the SEC a proxy statement on Schedule 14A. The definitive proxy statement will be sent to the stockholders of the Company seeking their approval of the Transaction and other related matters.
BEFORE MAKING ANY INVESTMENT OR VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT ON SCHEDULE 14A WHEN IT BECOMES AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING THE COMPANY, THE TRANSACTION AND RELATED MATTERS.
Investors and security holders may obtain free copies of these documents, including the proxy statement, and other documents filed with the SEC by the Company through the website maintained by the SEC at https://www.sec.gov. Copies of documents filed with the SEC by the Company will be made available free of charge by accessing the Company’s website at https://investor.integer.net/financial-information/sec-filings/default.aspx or by contacting the Company via email by sending a message to [email protected].
Participants in the Solicitation
The Company, Buyer and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the Transaction under the rules of the SEC. Information about the directors and executive officers of the Company and other persons who may be deemed to be participants in the solicitation of stockholders of the Company in connection with the Transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement and other relevant material related to the Transaction, which will be filed with the SEC when they become available, and may be found in the Company’s definitive proxy statement in connection with its 2026 Annual Meeting of Stockholders, as filed with the SEC on April 6, 2026 (the “2026 Proxy Statement”), and in the Form 10-K, and subsequently filed statements of beneficial ownership on Form 4. Information about the directors and executive officers of the Company, their ownership of the Company common stock, and the Company’s transactions with related persons is set forth in the sections entitled “Directors, Executive Officers and Corporate Governance,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” and “Certain Relationships and Related Transactions, and Director Independence” included in the Form 10-K, and in the sections entitled “Corporate Governance and Board Matters,” and “Security Ownership of Certain Beneficial Owners and Management,” included in the 2026 Proxy Statement. Additional information regarding the interests of such participants in the solicitation of proxies in respect of the Transaction will be included in the proxy statement and other relevant materials to be filed with the SEC when they become available. These documents can be obtained free of charge from the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
PLANO, Texas, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR) today announced results for the three months ended July 3, 2026.
Second Quarter 2026 Highlights (compared to Second Quarter 2025, except as noted)
Sales decreased 2.6% to $464 million. Organic sales decreased 1.5%.GAAP operating income from continuing operations totaled $35 million, a decrease of $25 million or 42%. Non-GAAP adjusted operating income totaled $73 million, a decrease of $8 million or 10%.GAAP income from continuing operations totaled $24 million, a decrease of $13 million or 36%. Non-GAAP adjusted net income totaled $55 million, a decrease of $0.1 million or 0%.GAAP diluted EPS income from continuing operations totaled $0.69, a decrease of $0.35 or 34%. Non-GAAP adjusted EPS totaled $1.60, an increase of $0.05 or 3%.Adjusted EBITDA totaled $95 million, a decrease of $4 million or 4%.From the end of 2025, total debt increased $53 million to $1.238 billion and Non-GAAP net total debt increased $46 million to $1.236 billion, resulting in a leverage ratio of 3.2 times adjusted EBITDA as of July 3, 2026. In a separate press release issued today, Integer and KKR announced they have entered into a definitive agreement under which an affiliate of investment funds managed by KKR will acquire all of the outstanding shares of Integer in an all-cash transaction valued at an enterprise value of $5.7 billion. Under the terms of the agreement, Integer stockholders will receive $127 per share in cash.
Given the pending transaction, Integer is withdrawing its previously issued financial outlook and will not host its previously scheduled earnings conference call and webcast scheduled for Thursday, August 6, 2026.
Discussion of Product Line Second Quarter 2026 Sales
Cardio & Vascular sales decreased 2% to $280 million in the second quarter 2026 compared to the second quarter 2025, reflecting the previously communicated impact from the two new Electrophysiology products.Cardiac Rhythm Management & Neuromodulation sales increased 1% to $174 million in the second quarter 2026 compared to the second quarter 2025. Growth was partially offset by the previously communicated impact from the one new Neuromodulation product.Other Markets sales totaled $10 million in the second quarter 2026, compared to $18 million in the second quarter 2025, primarily due to the Portable Medical exit. Summary Financial Results
(dollars in thousands, except per share data)
Three Months Ended Six Months Ended July 3,
2026 June 27,
2025 QTD Change July 3,
2026 June 27,
2025 YTD ChangeOperating income$34,528 $59,338 (41.8)% $66,397 $108,890 (39.0)%Income from continuing operations$23,605 $37,009 (36.2)% $40,111 $14,544 175.8%Diluted EPS from continuing operations$0.69 $1.04 (33.7)% $1.17 $0.41 185.4% EBITDA(a)$67,964 $87,636 (22.4)% $133,060 $119,274 11.6%Adjusted EBITDA(a)$94,939 $98,951 (4.1)% $180,000 $190,460 (5.5)%Adjusted operating income(a)$72,991 $81,266 (10.2)% $134,044 $152,189 (11.9)%Adjusted net income(a)$54,707 $54,818 (0.2)% $96,002 $100,756 (4.7)%Adjusted EPS(a)$1.60 $1.55 3.2% $2.80 $2.85 (1.8)% (a) EBITDA, adjusted EBITDA, Adjusted operating income, Adjusted net income, and Adjusted EPS are non-GAAP financial measures. Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures. Refer to Tables A, B and C at the end of this release for reconciliations of adjusted amounts to the closest corresponding GAAP financial measures.
Summary Product Line Results
(dollars in thousands)
Three Months Ended July 3,
2026 June 27,
2025 QTD Change Organic Change(a)Product Line Sales Cardio & Vascular$280,308 $286,855 (2.3)% (2.5)%Cardiac Rhythm Management & Neuromodulation 173,712 171,998 1.0% 1.0%Other Markets 10,090 17,641 (42.8)% (13.5)%Total Sales$464,110 $476,494 (2.6)% (1.5)% Six Months Ended July 3,
2026 June 27,
2025 YTD Change Organic Change(a)Product Line Sales Cardio & Vascular$542,041 $545,726 (0.7)% (1.5)%Cardiac Rhythm Management & Neuromodulation 341,976 332,343 2.9% 2.9%Other Markets 19,673 35,817 (45.1)% (12.4)%Total Sales$903,690 $913,886 (1.1)% (0.1)% (a) Organic sales change is a non-GAAP financial measure. Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures and refer to Table D at the end of this release for a reconciliation of these amounts to the closest corresponding GAAP financial measures.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Notes Regarding Non-GAAP Financial Information
|In addition to our results reported in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we provide adjusted net income, adjusted EPS, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, adjusted operating income, and organic sales change. Unless otherwise indicated, all financial metrics presented reflect continuing operations only.
Adjusted net income and adjusted EPS consist of GAAP income (loss) from continuing operations and diluted EPS from continuing operations, respectively, adjusted for the following to the extent occurring during the period: (i) amortization of intangible assets, (ii) certain legal expenses; (iii) restructuring and restructuring-related charges; (iv) acquisition and integration costs; (v) other general expenses; (vi) ERP implementation, (vii) (gain) loss on equity investments; (viii) extinguishment of debt charges, (ix) debt conversion inducement expense; (x) European Union medical device regulation incremental charges; (xi) inventory step-up amortization; (xii) unusual, or infrequently occurring items; (xiii) the income tax provision (benefit) related to these adjustments and (xiv) certain tax items that are outside the normal tax provision for the period. Adjusted EPS is calculated by dividing adjusted net income by adjusted weighted average shares.
The weighted average shares used to calculate diluted EPS in accordance with GAAP includes dilution, when applicable, resulting from the potential conversion of our 2028 Convertible Notes and 2030 Convertible Notes (collectively, the “Convertible Notes”). In connection with the issuance of the Convertible Notes, we entered into capped call contracts which are expected to reduce the potential dilution on our common stock in connection with any conversion of the Convertible Notes, subject to a cap. Adjusted weighted average shares consists of GAAP weighted average shares used to calculate diluted EPS, including, when applicable, dilutive common stock equivalents that were excluded from weighted average shares used to calculate diluted EPS as their inclusion would be anti-dilutive and excluding, when applicable, dilution resulting from the potential conversion of our Convertible Notes expected to be offset by the capped call contracts.
EBITDA is calculated by adding back interest expense, provision for income taxes, depreciation expense, and amortization expense from intangible assets and financing leases, to income (loss) from continuing operations, which is the most directly comparable GAAP financial measure. Adjusted EBITDA consists of EBITDA plus adding back stock-based compensation and the same adjustments as listed above except for items (i), (viii), (xiii) and (xiv). Adjusted operating income consists of operating income adjusted for the same items listed above except for items (vii), (viii), (ix), (xiii) and (xiv).
Organic sales change is reported sales growth adjusted to remove the impact of foreign currency, the contribution of acquisitions and the strategic exit of the Portable Medical market. To calculate the impact of foreign currency on sales growth rates, we convert any sale made in a foreign currency by converting current period sales into prior period sales using the exchange rate in effect at that time and then compare the two, negating any effect foreign currency had on our transactional revenue. For contribution of acquisitions, we exclude the impact on the growth rate attributable to the contribution of acquisitions in all periods where there were no comparable sales. For the strategic exit of the Portable Medical market, we exclude the impact on the growth rate attributable to Portable Medical sales for all periods presented.
We believe that the presentation of adjusted net income, adjusted EPS, EBITDA, adjusted EBITDA, adjusted operating income, and organic sales change, provides important supplemental information to management and investors seeking to understand the financial and business trends relating to our financial condition and results of operations. In addition to the performance measures identified above, we believe that net total debt and leverage ratio provide meaningful measures of liquidity and a useful basis for assessing our ability to fund our activities, including the financing of acquisitions and debt repayments. Net total debt is calculated as total principal amount of debt outstanding less cash and cash equivalents. We calculate leverage ratio as net total debt divided by adjusted EBITDA for the trailing 4 quarters.
Forward-Looking Statements
Some of the statements contained in this communication and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: our goals, plans, and strategic initiatives; long-term growth prospects; maximizing value for our stockholders; and other events, conditions or developments that will or may occur in the future; and timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this communication.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements regarding the transactions contemplated by the Agreement and Plan of Merger, by and among Integer Holdings Corporation (the “Company”), Armstrong Parent, Inc. (“Buyer”) and Armstrong Bidco, Inc. (the “Transaction”). All such forward-looking statements are based upon current plans, estimates, expectations, opportunities and ambitions that are subject to risks, uncertainties, assumptions, and other important factors, many of which are beyond the control of the Company, that could cause actual results to differ materially from those expressed in such forward-looking statements. Key factors that could cause actual results to differ materially include, but are not limited to, the expected timing and likelihood of completion of the Transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals; the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction; the possibility that the Company’s stockholders may not approve the Transaction; the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Transaction; the risk that any announcements relating to the Transaction could have adverse effects on the market price of the Company’s common stock; the risk that the Transaction and its announcement could have an adverse effect on the parties’ business relationships and business generally, including the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers, and on their operating results and businesses generally; the risk of unforeseen or unknown liabilities; customer, stockholder, regulatory and other stakeholder approvals and support; the risk of unexpected future capital expenditures; the risk of potential litigation relating to the Transaction that could be instituted against the Company or its directors and/or officers; the risk associated with third-party contracts containing material consent, anti-assignment, transfer or other provisions that may be related to the Transaction which are not waived or otherwise satisfactorily resolved; significant costs, or expenses incurred in connection with the Transaction; the Buyer’s ability to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; certain restrictions contained in the Agreement and Plan of Merger that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; the risk of various events that could disrupt operations, including pandemics, epidemics or other public health crises or severe weather (such as droughts, floods, avalanches and earthquakes), cybersecurity attacks, security threats and governmental response to them, and technological changes; the risks of labor disputes, changes in labor costs and labor difficulties; and the risks resulting from other effects of industry, market, economic, legal or legislative, political or regulatory conditions outside of the Company’s control. All such factors are difficult to predict and are beyond our control, including those detailed in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the Securities Exchange Commission (the “SEC”) on February 23, 2026 (the “Form 10-K”), quarterly reports on Form 10-Q and other documents subsequently filed by the Company with the SEC. The Company’s forward-looking statements are based on assumptions that the Company believes to be reasonable but that may not prove to be accurate. Other unpredictable or factors not discussed in this communication could also have material adverse effects on forward-looking statements. The Company does not assume an obligation to update any forward-looking statements, except as required by applicable law. These forward-looking statements speak only as of the date hereof.
Condensed Consolidated Balance Sheets - Unaudited(in thousands) July 3,
2026 December 31,
2025ASSETS Current assets: Cash and cash equivalents$21,375 $17,161 Accounts receivable, net 338,729 346,079 Inventories 288,058 253,739 Contract assets 119,024 112,546 Prepaid expenses and other current assets 43,449 40,572 Total current assets 810,635 770,097 Property, plant and equipment, net 532,340 536,427 Goodwill 1,104,651 1,110,908 Other intangible assets, net 788,841 825,435 Deferred income taxes 9,014 8,994 Operating lease assets 82,574 98,437 Financing lease assets 56,429 37,109 Other long-term assets 39,113 23,170 Total assets$3,423,597 $3,410,577 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$111,850 $113,130 Operating lease liabilities 8,209 9,099 Accrued expenses and other current liabilities 97,082 109,812 Total current liabilities 217,141 232,041 Long-term debt 1,237,883 1,185,179 Deferred income taxes 114,747 116,327 Operating lease liabilities 67,143 81,899 Financing lease liabilities 51,296 28,578 Other long-term liabilities 16,638 19,910 Total liabilities 1,704,848 1,663,934 Stockholders’ equity: Common stock 35 35 Additional paid-in capital 756,545 771,223 Treasury stock (110,734) (76,872)Retained earnings 1,034,166 994,055 Accumulated other comprehensive income 38,737 58,202 Total stockholders’ equity 1,718,749 1,746,643 Total liabilities and stockholders’ equity$3,423,597 $3,410,577 Condensed Consolidated Statements of Operations - Unaudited
(in thousands, except per share data) Three Months Ended Six Months Ended July 3,
2026 June 27,
2025 July 3,
2026 June 27,
2025Sales$464,110 $476,494 $903,690 $913,886 Cost of sales 351,168 347,342 681,153 664,416 Gross profit 112,942 129,152 222,537 249,470 Operating expenses: Selling, general and administrative 57,699 52,923 116,410 104,083 Research, development and engineering 11,278 14,240 27,521 28,441 Restructuring and other charges 9,437 2,651 12,209 8,056 Total operating expenses 78,414 69,814 156,140 140,580 Operating income 34,528 59,338 66,397 108,890 Interest expense 10,135 9,754 19,869 24,559 (Gain) loss on equity investments (42) 8 1,426 (173)Other loss, net 1,144 3,980 1,460 51,907 Income from continuing operations before taxes 23,291 45,596 43,642 32,597 Provision (benefit) for income taxes (314) 8,587 3,531 18,053 Income from continuing operations 23,605 37,009 40,111 14,544 Loss from discontinued operations, net of tax — — — (22)Net income$23,605 $37,009 $40,111 $14,522 Basic earnings per share: Income from continuing operations$0.69 $1.06 $1.17 $0.42 Loss from discontinued operations$— $— $— $— Basic earnings per share$0.69 $1.06 $1.17 $0.42 Diluted earnings per share: Income from continuing operations$0.69 $1.04 $1.17 $0.41 Loss from discontinued operations$— $— $— $— Diluted earnings per share$0.69 $1.04 $1.17 $0.41 Weighted average shares outstanding: Basic 34,010 35,035 34,146 34,488 Diluted 34,145 35,713 34,290 35,830 Condensed Consolidated Statements of Cash Flows - Unaudited(in thousands) Six Months Ended July 3,
2026 June 27,
2025Cash flows from operating activities: Net income$40,111 $14,522 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 69,549 62,118 Debt related charges included in interest expense 3,263 3,627 Debt conversion inducement expense — 46,681 Stock-based compensation 12,045 12,536 Non-cash fixed asset impairment 5,893 — Non-cash lease expense 4,876 5,000 Non-cash (gains) losses on equity investments 1,426 (173)Contingent consideration fair value adjustment (1,179) (309)Other non-cash losses 2,077 3,143 Deferred income taxes 18 3,942 Gain on sale of discontinued operations — (46)Changes in operating assets and liabilities, net of acquisitions: Accounts receivable 7,959 (41,014)Inventories (36,751) (14,509)Prepaid expenses and other assets (2,247) 71 Contract assets (6,762) 1,800 Accounts payable 5,591 11,561 Accrued expenses and other liabilities (11,761) (23,312)Income taxes payable (9,678) (10,500)Net cash provided by operating activities 84,430 75,138 Cash flows from investing activities: Acquisition of property, plant and equipment (46,651) (44,219)Purchase of equity and other investments, net of distributions (14,043) — Acquisitions, net — (170,872)Other investing activities 108 97 Net cash used in investing activities (60,586) (214,994)Cash flows from financing activities: Principal payments of long-term debt — (657,693)Proceeds from issuance of convertible notes, net of discount — 977,500 Proceeds from revolving credit facility 207,600 257,000 Payments of revolving credit facility (157,600) (373,000)Purchase of capped calls — (71,000)Payment of debt issuance costs (38) (1,266)Proceeds from the exercise of stock options — 3,644 Tax withholdings related to net share settlements of restricted stock unit awards (10,299) (16,707)Repurchases of common stock (50,000) — Principal payments on finance leases (4,256) (2,596)Other financing activities (5,162) 107 Net cash provided by (used in) financing activities (19,755) 115,989 Effect of foreign currency exchange rates on cash and cash equivalents 125 459 Net increase (decrease) in cash and cash equivalents 4,214 (23,408)Cash and cash equivalents, beginning of period 17,161 46,543 Cash and cash equivalents, end of period$21,375 $23,135 Table A: Adjusted Net Income and Diluted EPS from Continuing Operations Reconciliations
(in thousands, except per share amounts)
Three Months Ended July 3, 2026 June 27, 2025 Pre-Tax Net of Tax Per
Diluted
Share(a) Pre-Tax Net of Tax Per
Diluted
Share(a)Income from continuing operations (GAAP)$23,291 $23,605 $0.69 $45,596 $37,009 $1.04Adjustments(b): Amortization of intangible assets 15,973 12,897 0.38 16,120 12,978 0.37Certain legal expenses (SG&A)(c) 1,931 1,525 0.04 9 6 —Restructuring and restructuring-related charges(d) 4,397 3,212 0.09 2,575 2,049 0.06Acquisition and integration costs(e) 173 141 — 2,007 1,596 0.04Other general expenses(f) 7,423 6,297 0.18 7 7 —ERP implementation(g) 4,921 3,887 0.11 — — —(Gain) loss on equity investments(h) (42) (33) — 8 6 —Loss on extinguishment of debt(i) — — — 130 103 —Medical device regulations(j) 44 35 — 262 207 0.01Other adjustments(k) 3,601 2,845 0.08 948 750 0.02Tax adjustments(l) — 296 0.01 — 107 —Adjusted net income (non-GAAP)$61,712 $54,707 $1.60 $67,662 $54,818 $1.55 Six Months Ended July 3, 2026 June 27, 2025 Pre-Tax Net of Tax Per
Diluted
Share(a) Pre-Tax Net of Tax Per
Diluted
Share(a)Income from continuing operations (GAAP)$43,642 $40,111 $1.17 $32,597 $14,544 $0.41Adjustments(b): Amortization of intangible assets 31,967 25,820 0.75 30,971 24,927 0.71Certain legal expenses (SG&A)(c) 2,139 1,689 0.05 111 87 —Restructuring and restructuring-related charges(d) 6,245 4,672 0.14 3,677 2,938 0.08Acquisition and integration costs(e) 1,615 1,284 0.04 6,749 5,347 0.15Other general expenses(f) 8,146 6,868 0.20 6 6 —ERP implementation(g) 8,274 6,536 0.19 — — —(Gain) loss on equity investments(h) 1,426 1,126 0.03 (173) (137) —Loss on extinguishment of debt(i) — — — 867 685 0.02Debt conversion inducement expense(m) — — — 46,681 46,681 1.32Medical device regulations(j) 344 272 0.01 512 404 0.01Other adjustments(k) 8,917 7,045 0.21 1,273 1,006 0.03Tax adjustments(l) — 579 0.02 — 4,268 0.12Adjusted net income (Non-GAAP)$112,715 $96,002 $2.80 $123,271 $100,756 $2.85 (a) Income from continuing operations (GAAP) per diluted share amounts are calculated in accordance with GAAP using weighted average shares for diluted EPS. The per share amounts for the adjustments in the table above and adjusted net income are calculated using adjusted weighted average shares. The following table provides a reconciliation from GAAP weighted average shares for diluted EPS to non-GAAP adjusted weighted average shares.
Three Months Ended Six Months Ended July 03, 2026 June 27, 2025 July 03, 2026 June 27, 2025Weighted average shares for diluted EPS (GAAP) 34,145 35,713 34,290 35,830 Less: 2028 Convertible Notes capped call options impact (28) (240) (13) (515)Adjusted weighted average shares (non-GAAP) 34,117 35,473 34,277 35,315 (b) The difference between pre-tax and net of tax amounts is the estimated tax impact related to the respective adjustment. Net of tax amounts are computed using a 21% U.S. tax rate, and the statutory tax rates applicable in foreign tax jurisdictions, as adjusted for the existence of net operating losses (“NOLs”). Expenses that are not deductible for tax purposes (i.e. permanent tax differences) are added back at 100%.
(c) Certain legal expenses associated with non-ordinary course legal matters. Amounts for 2026 include $1.8 million of expense incurred in connection with the Company’s defense of a securities class action lawsuit.
(d) We initiate discrete restructuring programs primarily to realign resources to better serve our customers and markets, improve operational efficiency and capabilities, and lower operating costs or improve profitability. Depending on the program, restructuring charges may include termination benefits, contract termination, facility closure and other exit and disposal costs. Restructuring-related expenses are directly related to the program and may include retention bonuses, accelerated depreciation, consulting expense and costs to transfer manufacturing operations among our facilities. Amounts for the second quarter and first six months of 2026 include $1.8 million and $2.8 million, respectively, relating to our global manufacturing alignment restructuring initiative. In addition, the second quarter of 2026 includes $2.4 million related to an organizational realignment to enhance execution of our strategy through dedicated focus on growth and operational excellence.
(e) Acquisition and integration costs are incremental costs that are directly related to a business or asset acquisition. These costs may include, among other things, professional, consulting and other fees, system integration costs, and fair value adjustments relating to contingent consideration.
(f) Other general expenses are discrete transactions occurring sporadically and affect period-over-period comparisons. The Company recorded fixed asset impairment charges of $5.9 million during the second quarter of 2026. The impairment charges were primarily due to revised expectations regarding the future use of certain fixed assets.
(g) These adjustments represent direct and incremental costs incurred in connection with our implementation of a new global enterprise resource planning ("ERP") solution and related IT transition costs. An implementation of this scale is a significant undertaking and will require substantial time and attention of management and key employees. The associated costs do not represent normal and recurring operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance. Expenses for 2026 were primarily included in SG&A.
(h) Amounts reflect our share of equity method investee (gains) losses including unrealized appreciation/depreciation of the underlying interests of the investee.
(i) Loss on extinguishment of debt consists of accelerated write-offs of unamortized deferred debt issuance costs and discounts, which are included in interest expense.
(j) The charges represent incremental costs of complying with European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses.
(k) Other adjustments include costs which impact period-to-period comparability and do not represent the underlying ongoing results of our business. For 2025 and 2026, amounts include costs associated with leadership transitions, strategic projects, a stockholder activist matter, the Strategic Review announced during the quarter, pursuant to which we subsequently entered into the definitive agreement described elsewhere herein, and a cyber incident. Other adjustments includes the following expenses (in millions):
Three Months Ended Six Months Ended July 03, 2026 June 27, 2025 July 03, 2026 June 27, 2025Leadership transition costs$0.1 $0.7 $1.5 $0.7Strategic projects 0.9 0.3 1.6 0.6Stockholder activist matter 0.6 — 3.8 —Strategic Review 1.3 — 1.3 —Cyber incident costs 0.7 — 0.7 — (l) Tax adjustments include changes to uncertain tax benefits and associated interest for all periods presented. In addition, included in the amount for the first six months of 2025 is the write off a deferred tax asset for $4.1 million related to the a portion of the unamortized original issue discount due to the partial exchange of the 2028 Convertible Notes.
(m) Debt conversion inducement expense relates to the partial exchange of the 2028 Convertible Notes and is recorded within Other loss, net in the Condensed Consolidated Statements of Operations.
Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures.
Table B: Adjusted Operating Income Reconciliations
(in thousands)
Three Months Ended Six Months Ended July 3,
2026 June 27,
2025 July 3,
2026 June 27,
2025Operating income (GAAP)$34,528 $59,338 $66,397 $108,890Adjustments: Amortization of intangible assets 15,973 16,120 31,967 30,971Certain legal expenses 1,931 9 2,139 111Restructuring and restructuring-related charges 4,397 2,575 6,245 3,677Acquisition and integration costs 173 2,007 1,615 6,749Other general expenses 7,423 7 8,146 6ERP implementation 4,921 — 8,274 —Medical device regulations 44 262 344 512Other adjustments 3,601 948 8,917 1,273Adjusted operating income (non-GAAP)$72,991 $81,266 $134,044 $152,189
Table C: EBITDA and Adjusted EBITDA Reconciliations
(in thousands)
Three Months Ended Six Months Ended July 3,
2026 June 27,
2025 July 3,
2026 June 27,
2025Income from continuing operations (GAAP)$23,605 $37,009 $40,111 $14,544 Interest expense 10,135 9,754 19,869 24,559 Provision (benefit) for income taxes (314) 8,587 3,531 18,053 Depreciation(a) 16,743 15,040 34,086 29,026 Amortization of intangible assets and financing leases 17,795 17,246 35,463 33,092 EBITDA (non-GAAP) 67,964 87,636 133,060 119,274 Stock-based compensation(b) 4,527 5,499 9,834 12,350 Certain legal expenses 1,931 9 2,139 111 Restructuring and restructuring-related charges 4,397 2,575 6,245 3,677 Acquisition and integration costs 173 2,007 1,615 6,749 Other general expenses 7,423 7 8,146 6 ERP implementation 4,921 — 8,274 — (Gain) loss on equity investments (42) 8 1,426 (173)Debt conversion inducement expense — — — 46,681 Medical device regulations 44 262 344 512 Other adjustments 3,601 948 8,917 1,273 Adjusted EBITDA (non-GAAP)$94,939 $98,951 $180,000 $190,460 (a) Excludes amounts included in Restructuring and restructuring-related charges.
(b) Total stock-based compensation expense less amounts included in Restructuring and restructuring-related charges, ERP implementation, and Other adjustments.
GAAP Reported Growth Impact of Foreign Currency(a) Impact of Strategic
Exits and Acquisitions(a) Non-GAAP Organic ChangeQTD Change (2Q 2026 vs. 2Q 2025) Product Line Cardio & Vascular(2.3)% 0.1% 0.1% (2.5)%Cardiac Rhythm Management & Neuromodulation1.0% —% —% 1.0%Other Markets(42.8)% —% (29.3)% (13.5)%Total Sales(2.6)% 0.1% (1.2)% (1.5)% YTD Change (6M 2026 vs. 6M 2025) Product Line Cardio & Vascular(0.7)% 0.3% 0.5% (1.5)%Cardiac Rhythm Management & Neuromodulation2.9% —% —% 2.9%Other Markets(45.1)% —% (32.7)% (12.4)%Total Sales(1.1)% 0.2% (1.2)% (0.1)% (a) Sales growth has been adjusted to exclude the impact of foreign currency exchange rate fluctuations, when applicable, and strategic exits and acquisitions.
Table E: Net Total Debt Reconciliation
(in thousands)
July 3,
2026 December 31,
2025Total debt$1,237,883 $1,185,179Add: Debt discounts and deferred issuance costs included in Total debt 19,401 22,105Total principal amount of debt outstanding 1,257,284 1,207,284Less: Cash and cash equivalents 21,375 17,161Net Total Debt (Non-GAAP)$1,235,909 $1,190,123
ADAR1 Capital Management LLC purchased a new stake in Integer Holdings Corporation (NYSE:ITGR – Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 8,750 shares of the medical equipment provider’s stock, valued at approximately $770,000.
Several other institutional investors and hedge funds have also made changes to their positions in ITGR. Salomon & Ludwin LLC lifted its holdings in shares of Integer by 46.8% in the 4th quarter. Salomon & Ludwin LLC now owns 370 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 118 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Integer by 48.1% during the first quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 117 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Integer by 1,037.5% during the fourth quarter. TD Private Client Wealth LLC now owns 455 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 415 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Integer by 135.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 464 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 267 shares during the period. Finally, Arax Advisory Partners increased its holdings in shares of Integer by 2,489.5% in the 4th quarter. Arax Advisory Partners now owns 492 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 473 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.
Integer Stock Performance ITGR stock opened at $99.66 on Thursday. The firm has a 50 day simple moving average of $93.02 and a 200 day simple moving average of $88.60. Integer Holdings Corporation has a 52 week low of $62.00 and a 52 week high of $111.99. The stock has a market cap of $3.38 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.39 and a beta of 0.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.38 and a current ratio of 3.75.
Integer (NYSE:ITGR – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.01). The firm had revenue of $439.58 million for the quarter, compared to analysts’ expectations of $426.48 million. Integer had a return on equity of 12.83% and a net margin of 7.64%.Integer’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 earnings per share. Research analysts anticipate that Integer Holdings Corporation will post 6.04 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In Several research firms have commented on ITGR. Piper Sandler restated an “overweight” rating and issued a $97.00 target price (up from $87.00) on shares of Integer in a research report on Friday, May 1st. KeyCorp reaffirmed an “overweight” rating and set a $104.00 price target on shares of Integer in a report on Tuesday, July 21st. HC Wainwright reiterated a “buy” rating on shares of Integer in a research report on Friday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Integer in a research report on Thursday, June 18th. Finally, Truist Financial increased their price objective on Integer from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.
Read Our Latest Stock Report on ITGR
About Integer (Free Report)
Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.
Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.
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Fifth Third Bancorp grew its position in shares of Integer Holdings Corporation (NYSE:ITGR – Free Report) by 1,983.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,644 shares of the medical equipment provider’s stock after purchasing an additional 12,989 shares during the quarter. Fifth Third Bancorp’s holdings in Integer were worth $1,201,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Integer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,886,150 shares of the medical equipment provider’s stock worth $304,791,000 after acquiring an additional 14,465 shares during the period. State Street Corp boosted its holdings in shares of Integer by 3.7% during the fourth quarter. State Street Corp now owns 1,371,767 shares of the medical equipment provider’s stock worth $107,588,000 after purchasing an additional 48,463 shares during the period. Viking Global Investors LP grew its position in Integer by 9.1% during the second quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider’s stock valued at $157,889,000 after purchasing an additional 106,692 shares in the last quarter. Irenic Capital Management LP purchased a new position in Integer during the fourth quarter valued at approximately $99,109,000. Finally, Alliancebernstein L.P. increased its stake in Integer by 885.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider’s stock valued at $136,016,000 after buying an additional 993,810 shares during the period. Institutional investors own 99.29% of the company’s stock.
Wall Street Analyst Weigh In ITGR has been the subject of a number of research reports. Truist Financial lifted their target price on shares of Integer from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Zacks Research raised shares of Integer from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Freedom Capital upgraded Integer to a “strong-buy” rating in a report on Wednesday. Citigroup lifted their price objective on Integer from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, KeyCorp restated an “overweight” rating and issued a $104.00 target price on shares of Integer in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Integer has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.
View Our Latest Stock Analysis on ITGR
Integer Stock Up 1.1% NYSE ITGR opened at $98.61 on Friday. Integer Holdings Corporation has a twelve month low of $62.00 and a twelve month high of $111.99. The stock has a market cap of $3.35 billion, a PE ratio of 24.59, a PEG ratio of 2.32 and a beta of 0.64. The firm has a 50-day simple moving average of $92.47 and a 200 day simple moving average of $88.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.38 and a current ratio of 3.75.
Integer (NYSE:ITGR – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.01). Integer had a return on equity of 12.83% and a net margin of 7.64%.The firm had revenue of $439.58 million for the quarter, compared to analyst estimates of $426.48 million. During the same period in the previous year, the business posted $1.31 EPS. Integer’s revenue for the quarter was up .5% compared to the same quarter last year. Integer has set its FY 2026 guidance at 5.830-6.400 EPS. On average, research analysts forecast that Integer Holdings Corporation will post 6.04 EPS for the current year.
Integer Profile (Free Report)
Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.
Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.
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PLANO, Texas, July 02, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading global medical device contract development and manufacturing organization (CDMO), announced today that it will webcast its conference call to discuss financial results and business highlights for the second quarter ended July 3, 2026, on Thursday, Aug. 6, 2026, at 8 a.m. CT (9 a.m. ET). Other forward-looking and material information may also be discussed during the call.
The company will issue a news release announcing its financial results for the second quarter on Aug. 6, 2026 prior to the conference call.
Conference call details:
Date: Thursday, Aug. 6, 2026Time: 8 a.m. CT (9 a.m. ET)Domestic dial-in number: 800-715-9871International dial-in number: 646-307-1963Conference ID: 3120125Webcast Registration: ITGR Q2 2026 Earnings Call An audio replay will be available for seven days and can be accessed by dialing 800-770-2030 or 609- 800-9909 and using Conference ID 3120125. The conference call will also be available live and via archived replay on the Investor Relations section of the Integer website at: investor.integer.net.
From time to time, Integer posts information that may be of interest to investors on its website. To automatically receive Integer financial news by email, please visit investor.integer.net and subscribe to email alerts.
Learn more about Integer at www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The Company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Contacts
Media Relations:
Misty Tippen [email protected]
469-536-6702
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Stock to Watch: Integer (ITGR - Free Report) Plano, TX-based Integer Holdings Corporation is a medical device contract development and manufacturing organization, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. It serves as a partner to medical device companies and original equipment manufacturers (OEMs) and provides innovative, high-quality products and solutions. Its brands include Greatbatch Medical and Lake Region Medical, while its primary customers include large, multi-national OEMs and their affiliated subsidiaries.
ITGR is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 13.42; value investors should take notice.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.13 to $6.47 per share. ITGR boasts an average earnings surprise of +3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, ITGR should be on investors' short list.
PLANO, Texas, April 06, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading global medical device contract development and manufacturing organization (CDMO), today announced Pamela G. Bailey, who currently serves as Integer’s independent Chair of the Board, will not stand for re-election at the Company’s 2026 Annual Meeting of Stockholders, scheduled for May 20, 2026. Following the Annual Meeting, the Board intends to appoint current director Donald J. Spence to serve as independent Chair of the Board.
“It has been a privilege to serve on the Integer Board and to play my part in the Company’s growth and strategic success,” said Ms. Bailey. “I am confident that under Don’s leadership, the Board will continue to work closely and effectively with CEO Payman Khales and the executive team to support the advancement of Integer’s value creation strategy.”
“On behalf of the Board of Directors, I wish to thank Pam for her many years of devoted service to Integer, including her leadership as Chair of the Board,” said Mr. Spence. “As we move forward, I am honored to have the opportunity to serve as Chair. I strongly believe that Integer is well positioned, with a clear strategy and experienced leadership team to deliver long-term value to stockholders.”
Mr. Spence has served on the Board since 2016 and has been an integral part of guiding the strategic direction of Integer. He currently serves as the Chair of the Compensation & Organization Committee and is a member of the Corporate Governance & Nominating and Technology Strategy Committees. Mr. Spence retired in 2019 as President and Chief Executive Officer of Ebb Therapeutics. Previously, he served as Chairman and Chief Executive Officer of Lake Region Medical until its acquisition in 2015 by the Company and held senior executive roles at Philips Respironics and Philips Home Healthcare Solutions. Earlier in his career, Mr. Spence held leadership positions at GKN Sinter Metals and the BOC Group plc.
Learn more about Integer at www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The Company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Contacts
Media Relations:
Misty Tippen [email protected]
469-536-6702
Forward-Looking Statements
Some of the statements contained in this press release and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: expected Board leadership transition, our strategy of advancing our customers’ goals through industry-leading engineering and manufacturing and delivering sustainable, long-term value for our stockholders; and other events, conditions or developments that will or may occur in the future. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this press release.
Although it is not possible to create a comprehensive list of all factors that may cause actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties that arise from time to time are described in Item 1A, “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC and include, but are in no way limited to, the following:
operational risks, such as our dependence upon a limited number of customers; reductions, delays or cancellations in demand from any significant customer or group of customers; pricing pressures and contractual pricing restraints we face from customers; our reliance on third-party suppliers for raw materials, key products and subcomponents; the cost of raw materials, products and subcomponents that are incorporated into our products; trade regulations; changes in order forecasts; our ability to predict and meet the demand for our products; interruptions in our manufacturing operations; uncertainty surrounding macroeconomic and geopolitical factors in the U.S. and globally; our ability to attract, train and retain a sufficient number of qualified associates to maintain and grow our business; the potential for harm to our reputation and competitive advantage caused by quality problems related to our products; our dependence upon our information technology systems and our ability to prevent cyber-attacks and other failures; global climate change and the emphasis on Environmental, Social and Governance matters by various stakeholders; our dependence upon our senior management team and key technical personnel; and consolidation in the healthcare industry both at a competitor and customer level resulting in increased competition and pricing pressure;strategic risks, such as the intense competition we face and our ability to successfully market our current or new products; our ability to recover the R&D investments made in the development of new products; our customers in-sourcing or dual sourcing production; our ability to respond to changes in technology; our ability to develop new products and expand into new geographic and product markets; and our ability to successfully identify, make and integrate acquisitions to expand and develop our business in accordance with expectations;market, financial and indebtedness risks, such as our ability to accurately forecast future performance based on operating results that often fluctuate; the volatility of our stock price; our failure to meet our publicly announced guidance; the ability of our share repurchase program, including the ASR, to enhance shareholder value; shareholder activism; our significant amount of outstanding indebtedness and our ability to remain in compliance with financial and other covenants under the credit agreement governing our Senior Secured Credit Facilities; economic and credit market uncertainties that could interrupt our access to capital markets, borrowings or financial transactions; the conditional conversion features of our Convertible Notes adversely impacting our liquidity; the conversion of our Convertible Notes diluting ownership interests of existing holders of our common stock; the counterparty risk associated with our capped call transactions; the financial and market risks related to our international sales and operations; our complex international tax profile; and our ability to realize the full value of our intangible assets;legal and compliance risks, such as legal proceedings against us; regulatory issues resulting from product complaints, recalls or regulatory audits; the potential of becoming subject to product liability or intellectual property claims; our ability to protect our intellectual property and proprietary rights; our ability to comply with customer-driven policies and third-party standards or certification requirements; our ability to obtain and/or retain necessary licenses from third parties for new technologies; our ability and the cost to comply with environmental regulations; legal and regulatory risks from our international operations; the fact that the healthcare industry is highly regulated and subject to various regulatory changes; and our business being indirectly subject to healthcare industry cost containment measures and third-party coverage and reimbursement policies that could result in reduced sales of our products; andother risks and uncertainties that arise from time to time. Unless otherwise noted, the forward-looking information in this press release is representative as of today only. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
NEW YORK, April 22, 2026 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Integer Holdings Corporation (NYSE: ITGR) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Insiders at Integer caused the company to misrepresent or fail to disclose that: (1) Integer materially overstated its competitive position within the growing EP manufacturing market; (2) despite Integer’s claims of strong visibility into customer demand, the Company was experiencing a sustained deterioration in sales relating to two of its EP devices; (3) in turn, Integer mischaracterized its EP devices as a long-term growth driver for the Company’s C&V segment; and (4) as a result of the above, positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you currently own ITGR and purchased prior to July 25, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
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Stock to Watch: Integer (ITGR - Free Report) Plano, TX-based Integer Holdings Corporation is a medical device contract development and manufacturing organization, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. It serves as a partner to medical device companies and original equipment manufacturers (OEMs) and provides innovative, high-quality products and solutions. Its brands include Greatbatch Medical and Lake Region Medical, while its primary customers include large, multi-national OEMs and their affiliated subsidiaries.
ITGR is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 13.16; value investors should take notice.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.07 to $6.47 per share. ITGR boasts an average earnings surprise of +3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, ITGR should be on investors' short list.
PLANO, Texas, April 29, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading medical device contract development and manufacturing organization, today announced participation in the 2026 Bank of America Healthcare Conference, to be held May 12-14, 2026. Members of the Integer executive leadership team will participate in a fireside chat on Tuesday, May 12, at 1:40 p.m. PT.
A live webcast and replay will be accessible under “News & Events” on the Investor Relations section of Integer’s website at investor.integer.net.
Learn more about Integer at www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
PLANO, Texas, April 30, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading global medical device contract development and manufacturing organization (CDMO), today announced that its Board of Directors (the “Board”) has initiated a strategic review. In consultation with its financial and legal advisors, the Board will consider a full range of potential opportunities including, but not limited to, a sale, merger, or strategic business combination as compared to the value creation opportunities from continued execution of the Company’s standalone strategy. The Board is committed to pursuing the best interests of the Company and its stockholders to maximize value.
“Integer is recognized as an industry leader, with world-class engineering and manufacturing capabilities, strong long-term customer relationships, a broad and deep portfolio, a robust and diversified pipeline, and exposure to attractive high-growth markets,” said Pamela G. Bailey, Integer’s Chair of the Board. “The Board remains confident in Integer’s strategy and long-term growth prospects. However, given the strong interest we have received in the Company, the Board believes now is the right time to consider all opportunities to further enhance stockholder value.”
“Over the past several years and through disciplined execution of our strategy, we have continued to strengthen Integer’s position as a leader in the contract development and manufacturing space, building a truly differentiated company,” said Payman Khales, Integer’s President and CEO. “Integer is a trusted partner to some of the most innovative companies in the medical device ecosystem. We remain focused on delivering value for our customers while we explore all options to maximize value for our stockholders.”
There is no deadline or definitive timeline set for the completion of the strategic review, and there can be no assurance that the review will result in any transaction or other outcome. Integer does not intend to make any further public comments on the process unless and until it determines that further disclosure is appropriate or necessary.
Advisors
Goldman Sachs & Co. LLC is serving as Integer’s financial advisor and Davis Polk & Wardwell LLP as legal advisor.
First Quarter 2026 Results
In a separate press release issued today, Integer reported first quarter 2026 financial results. The Company will host a conference call today at 8 a.m. CT / 9 a.m. ET to discuss these results.
That press release, along with other investor materials, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on investor.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The Company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Contacts
Media Relations:
Misty Tippen [email protected]
469-536-6702
Forward-Looking Statements
Some of the statements contained in this press release and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: the outcome of the strategic review process; our goals, plans, and strategic initiatives; long-term growth prospects; maximizing value for our stockholders; and other events, conditions or developments that will or may occur in the future; and timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this press release.
Although it is not possible to create a comprehensive list of all factors that may cause actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties that arise from time to time are described in Item 1A, “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC and include, but are in no way limited to, the following:
operational risks, such as our dependence upon a limited number of customers; reductions, delays or cancellations in demand from any significant customer or group of customers; pricing pressures and contractual pricing restraints we face from customers; our reliance on third-party suppliers for raw materials, key products and subcomponents; the cost of raw materials, products and subcomponents that are incorporated into our products; trade regulations; changes in order forecasts; our ability to predict and meet the demand for our products; interruptions in our manufacturing operations; uncertainty surrounding macroeconomic and geopolitical factors in the U.S. and globally; our ability to attract, train and retain a sufficient number of qualified associates to maintain and grow our business; the potential for harm to our reputation and competitive advantage caused by quality problems related to our products; our ability to successfully implement a new global enterprise resource planning (“ERP”) solution; our dependence upon our information technology systems and our ability to prevent cyber-attacks and other failures; global climate change and the emphasis on Environmental, Social and Governance matters by various stakeholders; our dependence upon our senior management team and key technical personnel; and consolidation in the healthcare industry both at a competitor and customer level resulting in increased competition and pricing pressure;strategic risks, such as the intense competition we face and our ability to successfully market our current or new products; our ability to recover the R&D investments made in the development of new products; our customers in-sourcing or dual sourcing production; our ability to respond to changes in technology; our ability to develop new products and expand into new geographic and product markets; and our ability to successfully identify, make and integrate acquisitions to expand and develop our business in accordance with expectations;market, financial and indebtedness risks, such as our ability to accurately forecast future performance based on operating results that often fluctuate; the volatility of our stock price; our failure to meet our publicly announced guidance; the ability of our share repurchase program to enhance shareholder value; shareholder activism; our significant amount of outstanding indebtedness and our ability to remain in compliance with financial and other covenants under the credit agreement governing our Senior Secured Credit Facilities; economic and credit market uncertainties that could interrupt our access to capital markets, borrowings or financial transactions; the conditional conversion features of our Convertible Notes adversely impacting our liquidity; the conversion of our Convertible Notes diluting ownership interests of existing holders of our common stock; the counterparty risk associated with our capped call transactions; the financial and market risks related to our international sales and operations; our complex international tax profile; and our ability to realize the full value of our intangible assets;legal and compliance risks, such as legal proceedings against us; regulatory issues resulting from product complaints, recalls or regulatory audits; the potential of becoming subject to product liability or intellectual property claims; our ability to protect our intellectual property and proprietary rights; our ability to comply with customer-driven policies and third-party standards or certification requirements; our ability to obtain and/or retain necessary licenses from third parties for new technologies; our ability and the cost to comply with environmental regulations; legal and regulatory risks from our international operations; the fact that the healthcare industry is highly regulated and subject to various regulatory changes; and our business being indirectly subject to healthcare industry cost containment measures and third-party coverage and reimbursement policies that could result in reduced sales of our products; andother risks and uncertainties that arise from time to time. Unless otherwise noted, the forward-looking information in this press release is representative as of today only. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
~ First quarter results in line with February outlook ~
~ Updates 2026 outlook ranges; continues to expect 200bps above-market organic sales growth in 2027 ~
PLANO, Texas, April 30, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR) today announced results for the three months ended April 3, 2026.
First Quarter 2026 Highlights (compared to First Quarter 2025, except as noted)
Sales increased 0.5% to $440 million, with organic growth of 1.3%.GAAP operating income from continuing operations decreased $18 million to $32 million, a decrease of 36%. Non-GAAP adjusted operating income decreased $10 million to $61 million, a decrease of 14%.GAAP income from continuing operations increased $39 million to $17 million, an increase of 173%. Non-GAAP adjusted net income decreased $5 million to $41 million, a decrease of 10%.GAAP diluted EPS income from continuing operations increased $1.14 to $0.48, an increase of 173%. Non-GAAP adjusted EPS decreased $0.11 to $1.20, a decrease of 8%.Adjusted EBITDA decreased $6 million to $85 million, a decrease of 7%.From the end of 2025, total debt increased $66 million to $1.252 billion and Non-GAAP net total debt increased $74 million to $1.264 billion, resulting in a leverage ratio of 3.2 times adjusted EBITDA as of April 3, 2026. “First quarter financial performance was in line with our outlook and primarily reflected the previously communicated headwinds associated with the three new products,” said Payman Khales, Integer’s President and CEO. “Given recent customer forecast updates and market dynamics, we believe it was prudent to further risk adjust our outlook. We remain focused on executing our strategy, navigating the temporary headwinds, and building momentum during the second half of 2026. We expect to return to 200 basis points above-market organic sales growth in 2027.”
Discussion of Product Line First Quarter 2026 Sales
Cardio & Vascular sales increased 1% to $262 million in the first quarter 2026 compared to the first quarter 2025, reflecting the previously communicated headwinds associated with the two new products in Electrophysiology.Cardiac Rhythm Management & Neuromodulation sales increased 5% to $168 million in the first quarter 2026 compared to the first quarter 2025. Cardiac Rhythm Management growth was partially offset by the previously communicated headwind in Neuromodulation.Other Markets sales decreased $9 million to $10 million in the first quarter 2026 compared to the first quarter 2025, primarily driven by a decline in Portable Medical from the multi-year exit announced in 2022. 2026 Outlook(a)
(dollars in millions, except per share amounts) GAAP Non-GAAP(b) As Reported Change from
Prior Year Adjusted Change from
Prior YearSales $1,805 to $1,835 (3)% to (1)% N/A N/AOperating income $165 to $185 (25)% to (16)% $285 to $305 (11)% to (5)%EBITDA N/A N/A $375 to $399 (7)% to (1)%Net income $105 to $125 2% to 21% $200 to $220 (11)% to (3)%Diluted earnings per share $3.07 to $3.64 6% to 26% $5.83 to $6.40 (9)% to 0%Cash flow from operating activities $185 to $205 (6)% to 5% N/A N/A (a) Except as described below, further reconciliations by line item to the closest corresponding GAAP financial measure for adjusted operating income, adjusted EBITDA, adjusted net income and adjusted earnings per share (“EPS”), included in our “2026 Outlook” above, and adjusted total interest expense, adjusted effective tax rate and leverage ratio in “Supplemental Financial Information” below, are not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and visibility of the charges excluded from these non-GAAP financial measures.
(b) Adjusted operating income for 2026 consists of GAAP operating income, excluding items such as amortization of intangible assets, restructuring and restructuring-related charges, and acquisition and integration costs, totaling approximately $120 million, pre-tax.
Adjusted net income for 2026 consists of GAAP income from continuing operations, excluding items such as amortization of intangible assets, restructuring and restructuring-related charges, acquisition and integration costs, other general expenses, and ERP implementation expenses, estimated to approximate $120 million, pre-tax. The after-tax impact of these items is estimated to be approximately $95 million, or approximately $2.76 per diluted share.
Adjusted EBITDA is expected to consist of adjusted net income, excluding items such as depreciation, interest, stock-based compensation and taxes totaling approximately $175 million to $182 million.
Supplemental Financial Information
(dollars in millions)2026
Outlook 2025
ActualDepreciation and amortization(a)$131 to $141 $131Adjusted total interest expense(b)$38 to $40 $42Stock-based compensation(a)$20 to $23 $21Restructuring, acquisition and other charges(c)$50 to $60 $36Adjusted effective tax rate(d)16.0% to 18.0% 17.2%
Leverage ratio(e)2.5x to 3.5x 3.0xCapital expenditures(f)$95 to $105 $91Cash income tax payments$24 to $28 $28 (a) Excludes amounts included in Restructuring, acquisition and other charges.
(b) Adjusted total interest expense refers to our expected full-year GAAP interest expense, expected to range from $38 million to $40 million for 2026, adjusted to remove the full-year impact of charges associated with the accelerated write-off of debt discounts and deferred issuance costs (loss on extinguishment of debt) included in GAAP interest expense, if any. Adjusted total interest expense for 2025 included GAAP interest expense of $43 million.
(c) Restructuring, acquisition and other charges consists of restructuring and restructuring-related charges, acquisition and integration costs, ERP implementation costs, other general expenses and incremental costs of complying with the new European Union medical device regulations.
(d) Adjusted effective tax rate refers to our full-year GAAP effective tax rate, expected to range from 17.0% to 19.0% for 2026, adjusted to reflect the full-year impact of the items that are excluded in providing adjusted net income and certain other identified items. Adjusted effective tax rate of 17.2% for 2025 consists of GAAP effective tax rate of 18.0% adjusted to reflect the impact on the income tax provision related to Non-GAAP adjustments.
(e) Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding leverage ratio.
(f) Capital expenditures is calculated as cash used to acquire property, plant, and equipment (PP&E) less cash proceeds from the sale of PP&E.
Summary Financial Results
(dollars in thousands, except per share data)
Three Months Ended April 3,
2026 March 28,
2025 QTD
ChangeOperating income$31,869 $49,552 (35.7)%Income (loss) from continuing operations$16,506 $(22,465) 173.5%Diluted EPS from continuing operations$0.48 $(0.66) 172.7% EBITDA(a)$65,096 $31,638 105.8%Adjusted EBITDA(a)$85,061 $91,509 (7.0)%Adjusted operating income(a)$61,053 $70,923 (13.9)%Adjusted net income(a)$41,295 $45,938 (10.1)%Adjusted EPS(a)$1.20 $1.31 (8.4)% (a) EBITDA, adjusted EBITDA, Adjusted operating income, Adjusted net income, and Adjusted EPS are non-GAAP financial measures. Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures. Refer to Tables A, B and C at the end of this release for reconciliations of adjusted amounts to the closest corresponding GAAP financial measures.
Summary Product Line Results
(dollars in thousands)
Three Months Ended April 3,
2026 March 28,
2025 QTD
Change Organic
Change(a)Product Line Sales Cardio & Vascular$261,733 $258,871 1.1% (0.4)%Cardiac Rhythm Management & Neuromodulation 168,264 160,345 4.9% 4.9%Other Markets 9,583 18,176 (47.3)% (11.0)%Total Sales$439,580 $437,392 0.5% 1.3% (a) Organic sales change is a non-GAAP financial measure. Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures and refer to Table D at the end of this release for a reconciliation of these amounts to the closest corresponding GAAP financial measures.
Strategic Review
Integer also announced today in a separate press release that its Board of Directors has initiated a strategic review to maximize stockholder value. In consultation with its financial and legal advisors, the Board will consider a full range of potential opportunities including, but not limited to, a sale, merger, or strategic business combination as compared to the value creation opportunities from continued execution of the Company’s standalone strategy. The Board is committed to pursuing the best interests of the Company and its stockholders to maximize value. There is no deadline or definitive timeline set for the completion of the strategic review, and there can be no assurance that the review will result in any transaction or other outcome. Integer does not intend to make any further public comments on the process unless and until it determines that further disclosure is appropriate or necessary.
Conference Call Information
The Company will host a conference call on Thursday, April 30, 2026, at 8 a.m. CT / 9 a.m. ET to discuss these results. The scheduled conference call will be webcast live and is accessible through our website at investor.integer.net or by dialing (800) 715-9871 (U.S.) or (646) 307-1963 (outside U.S.) and the conference ID is 3120125. The call will be archived on the Company’s website. An earnings call slide presentation containing supplemental information about the Company’s results will be posted to our website at investor.integer.net prior to the conference call and will be referenced during the conference call.
From time to time, the Company posts information that may be of interest to investors on its website. To automatically receive Integer financial news by email, please visit investor.integer.net and subscribe to email alerts.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
In addition to our results reported in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we provide adjusted net income, adjusted EPS, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, adjusted operating income, and organic sales change. Unless otherwise indicated, all financial metrics presented reflect continuing operations only.
Adjusted net income and adjusted EPS consist of GAAP income (loss) from continuing operations and diluted EPS from continuing operations, respectively, adjusted for the following to the extent occurring during the period: (i) amortization of intangible assets, (ii) certain legal expenses; (iii) restructuring and restructuring-related charges; (iv) acquisition and integration costs; (v) other general expenses; (vi) ERP implementation, (vii) (gain) loss on equity investments; (viii) extinguishment of debt charges, (ix) debt conversion inducement expense; (x) European Union medical device regulation incremental charges; (xi) inventory step-up amortization; (xii) unusual, or infrequently occurring items; (xiii) the income tax provision (benefit) related to these adjustments and (xiv) certain tax items that are outside the normal tax provision for the period. Adjusted EPS is calculated by dividing adjusted net income by adjusted weighted average shares.
The weighted average shares used to calculate diluted EPS in accordance with GAAP includes dilution, when applicable, resulting from the potential conversion of our 2028 Convertible Notes and 2030 Convertible Notes (collectively, the “Convertible Notes”). In connection with the issuance of the Convertible Notes, we entered into capped call contracts which are expected to reduce the potential dilution on our common stock in connection with any conversion of the Convertible Notes, subject to a cap. Adjusted weighted average shares consists of GAAP weighted average shares used to calculate diluted EPS, including, when applicable, dilutive common stock equivalents that were excluded from weighted average shares used to calculate diluted EPS as their inclusion would be anti-dilutive and excluding, when applicable, dilution resulting from the potential conversion of our Convertible Notes expected to be offset by the capped call contracts.
EBITDA is calculated by adding back interest expense, provision for income taxes, depreciation expense, and amortization expense from intangible assets and financing leases, to income (loss) from continuing operations, which is the most directly comparable GAAP financial measure. Adjusted EBITDA consists of EBITDA plus adding back stock-based compensation and the same adjustments as listed above except for items (i), (viii), (xiii) and (xiv). Adjusted operating income consists of operating income adjusted for the same items listed above except for items (vii), (viii), (ix), (xiii) and (xiv).
Organic sales change is reported sales growth adjusted to remove the impact of foreign currency, the contribution of acquisitions and the strategic exit of the Portable Medical market. To calculate the impact of foreign currency on sales growth rates, we convert any sale made in a foreign currency by converting current period sales into prior period sales using the exchange rate in effect at that time and then compare the two, negating any effect foreign currency had on our transactional revenue. For contribution of acquisitions, we exclude the impact on the growth rate attributable to the contribution of acquisitions in all periods where there were no comparable sales. For the strategic exit of the Portable Medical market, we exclude the impact on the growth rate attributable to Portable Medical sales for all periods presented.
We believe that the presentation of adjusted net income, adjusted EPS, EBITDA, adjusted EBITDA, adjusted operating income, and organic sales change, provides important supplemental information to management and investors seeking to understand the financial and business trends relating to our financial condition and results of operations. In addition to the performance measures identified above, we believe that net total debt and leverage ratio provide meaningful measures of liquidity and a useful basis for assessing our ability to fund our activities, including the financing of acquisitions and debt repayments. Net total debt is calculated as total principal amount of debt outstanding less cash and cash equivalents. We calculate leverage ratio as net total debt divided by adjusted EBITDA for the trailing 4 quarters.
Forward-Looking Statements
Some of the statements contained in this press release and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: our goals, plans, and strategic initiatives; our 2026 outlook, including with respect to future sales, organic sales, cash flows from operating activities, operating income, EBITDA, net income, diluted earnings per share, expenses, and profitability; 2026 outlook for depreciation and amortization, interest expense, stock-based compensation, restructuring, acquisition and other charges, effective tax rate, leverage ratio, capital expenditures and cash income tax payments; building momentum during the second half of 2026; our 2027 outlook, including a return to 200 basis points above-market organic sales growth; expected market growth rates; our strategy of advancing our customers’ goals through industry-leading engineering and manufacturing; the outcome of a strategic review process; other events, conditions or developments that will or may occur in the future; and the timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this report.
Although it is not possible to create a comprehensive list of all factors that may cause actual results to differ from the results expressed or implied by our forward-looking statements or that may affect our future results, some of these factors and other risks and uncertainties that arise from time to time are described in Item 1A, “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC and include, but are in no way limited to, the following:
operational risks, such as our dependence upon a limited number of customers; reductions, delays or cancellations in demand from any significant customer or group of customers; pricing pressures and contractual pricing restraints we face from customers; our reliance on third-party suppliers for raw materials, key products and subcomponents; the cost of raw materials, products and subcomponents that are incorporated into our products; trade regulations; changes in order forecasts; our ability to predict and meet the demand for our products; interruptions in our manufacturing operations; uncertainty surrounding macroeconomic and geopolitical factors in the U.S. and globally; our ability to attract, train and retain a sufficient number of qualified associates to maintain and grow our business; the potential for harm to our reputation and competitive advantage caused by quality problems related to our products; our ability to successfully implement a new global enterprise resource planning (“ERP”) solution; our dependence upon our information technology systems and our ability to prevent cyber-attacks and other failures; global climate change and the emphasis on Environmental, Social and Governance matters by various stakeholders; our dependence upon our senior management team and key technical personnel; and consolidation in the healthcare industry both at a competitor and customer level resulting in increased competition and pricing pressure;strategic risks, such as the intense competition we face and our ability to successfully market our current or new products; our ability to recover the R&D investments made in the development of new products; our customers in-sourcing or dual sourcing production; our ability to respond to changes in technology; our ability to develop new products and expand into new geographic and product markets; and our ability to successfully identify, make and integrate acquisitions to expand and develop our business in accordance with expectations;market, financial and indebtedness risks, such as our ability to accurately forecast future performance based on operating results that often fluctuate; the volatility of our stock price; our failure to meet our publicly announced guidance; the ability of our share repurchase program to enhance shareholder value; shareholder activism; our significant amount of outstanding indebtedness and our ability to remain in compliance with financial and other covenants under the credit agreement governing our Senior Secured Credit Facilities; economic and credit market uncertainties that could interrupt our access to capital markets, borrowings or financial transactions; the conditional conversion features of our Convertible Notes adversely impacting our liquidity; the conversion of our Convertible Notes diluting ownership interests of existing holders of our common stock; the counterparty risk associated with our capped call transactions; the financial and market risks related to our international sales and operations; our complex international tax profile; and our ability to realize the full value of our intangible assets;legal and compliance risks, such as legal proceedings against us; regulatory issues resulting from product complaints, recalls or regulatory audits; the potential of becoming subject to product liability or intellectual property claims; our ability to protect our intellectual property and proprietary rights; our ability to comply with customer-driven policies and third-party standards or certification requirements; our ability to obtain and/or retain necessary licenses from third parties for new technologies; our ability and the cost to comply with environmental regulations; legal and regulatory risks from our international operations; the fact that the healthcare industry is highly regulated and subject to various regulatory changes; and our business being indirectly subject to healthcare industry cost containment measures and third-party coverage and reimbursement policies that could result in reduced sales of our products; andother risks and uncertainties that arise from time to time. Unless otherwise noted, the forward-looking information in this press release is representative as of today only. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
Condensed Consolidated Balance Sheets - Unaudited(in thousands) April 3,
2026 December 31,
2025ASSETS Current assets: Cash and cash equivalents$8,115 $17,161 Accounts receivable, net 327,776 346,079 Inventories 284,475 253,739 Contract assets 115,727 112,546 Prepaid expenses and other current assets 38,671 40,572 Total current assets 774,764 770,097 Property, plant and equipment, net 533,144 536,427 Goodwill 1,106,767 1,110,908 Other intangible assets, net 806,335 825,435 Deferred income taxes 8,983 8,994 Operating lease assets 85,098 98,437 Financing lease assets 57,071 37,109 Other long-term assets 39,557 23,170 Total assets$3,411,719 $3,410,577 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$115,001 $113,130 Operating lease liabilities 8,111 9,099 Accrued expenses and other current liabilities 83,232 109,812 Total current liabilities 206,344 232,041 Long-term debt 1,251,527 1,185,179 Deferred income taxes 115,099 116,327 Operating lease liabilities 69,291 81,899 Financing lease liabilities 52,530 28,578 Other long-term liabilities 20,036 19,910 Total liabilities 1,714,827 1,663,934 Stockholders’ equity: Common stock 35 35 Additional paid-in capital 755,873 771,223 Treasury stock (114,234) (76,872)Retained earnings 1,010,561 994,055 Accumulated other comprehensive income 44,657 58,202 Total stockholders’ equity 1,696,892 1,746,643 Total liabilities and stockholders’ equity$3,411,719 $3,410,577 Condensed Consolidated Statements of Operations - Unaudited(in thousands, except per share data) Three Months Ended April 3,
2026 March 28,
2025Sales$439,580 $437,392 Cost of sales 329,985 317,074 Gross profit 109,595 120,318 Operating expenses: Selling, general and administrative 58,711 51,160 Research, development and engineering 16,243 14,201 Restructuring and other charges 2,772 5,405 Total operating expenses 77,726 70,766 Operating income 31,869 49,552 Interest expense 9,734 14,805 (Gain) loss on equity investments 1,468 (181)Other loss, net 316 47,927 Income (loss) from continuing operations before taxes 20,351 (12,999)Provision for income taxes 3,845 9,466 Income (loss) from continuing operations 16,506 (22,465)Loss from discontinued operations, net of tax — (22)Net income (loss)$16,506 $(22,487) Basic earnings (loss) per share: Income (loss) from continuing operations$0.48 $(0.66)Loss from discontinued operations$— $— Basic earnings (loss) per share$0.48 $(0.66) Diluted earnings (loss) per share: Income (loss) from continuing operations$0.48 $(0.66)Loss from discontinued operations$— $— Diluted earnings (loss) per share$0.48 $(0.66) Weighted average shares outstanding: Basic 34,278 33,916 Diluted 34,433 33,916 Condensed Consolidated Statements of Cash Flows - Unaudited(in thousands) Three Months Ended April 3,
2026 March 28,
2025Cash flows from operating activities: Net income (loss)$16,506 $(22,487)Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 35,011 29,832 Debt related charges included in interest expense 1,625 1,882 Debt conversion inducement expense — 46,681 Stock-based compensation 6,662 6,880 Non-cash lease expense 2,452 2,455 Non-cash gains on equity investments 1,468 (181)Other non-cash losses 716 2,574 Deferred income taxes 17 4,055 Gain on sale of discontinued operations — (46)Changes in operating assets and liabilities, net of acquisitions: Accounts receivable 18,583 (18,232)Inventories (32,386) (7,695)Prepaid expenses and other assets (2,843) (1,169)Contract assets (3,313) 1,219 Accounts payable 9,440 10,207 Accrued expenses and other liabilities (30,647) (23,495)Income taxes payable 1,404 (1,204)Net cash provided by operating activities 24,695 31,276 Cash flows from investing activities: Acquisition of property, plant and equipment (23,958) (25,218)Proceeds from sale of property, plant and equipment 55 5 Purchase of equity and other investments, net of distributions (13,998) — Acquisitions, net — (171,954)Net cash used in investing activities (37,901) (197,167)Cash flows from financing activities: Principal payments of long-term debt — (613,683)Proceeds from issuance of convertible notes, net of discount — 977,500 Proceeds from revolving credit facility 111,800 216,000 Payments of revolving credit facility (46,800) (342,000)Purchase of capped calls — (71,000)Tax withholdings related to net share settlements of restricted stock unit awards (9,035) (14,132)Repurchases of common stock (50,000) — Principal payments on finance leases (2,029) (1,177)Other financing activities (106) 70 Net cash provided by financing activities 3,830 151,578 Effect of foreign currency exchange rates on cash and cash equivalents 330 (519)Net decrease in cash and cash equivalents (9,046) (14,832)Cash and cash equivalents, beginning of period 17,161 46,543 Cash and cash equivalents, end of period$8,115 $31,711
Table A: Adjusted Net Income and Diluted EPS from Continuing Operations Reconciliations
(in thousands, except per share amounts)
Three Months Ended April 3, 2026 March 28, 2025 Pre-Tax Net of
Tax Per
Diluted
Share(a) Pre-Tax Net of
Tax Per
Diluted
Share(a)Income (loss) from continuing operations (GAAP)$20,351 $16,506 $0.48 $(12,999) $(22,465) $(0.66)Adjustments(b): Amortization of intangible assets 15,994 12,923 0.38 14,851 11,949 0.34 Certain legal expenses (SG&A)(c) 208 164 — 102 81 — Restructuring and restructuring-related charges(d) 1,848 1,460 0.04 1,102 889 0.03 Acquisition and integration costs(e) 1,442 1,143 0.03 4,742 3,751 0.11 Other general expenses(f) 723 571 0.02 (1) (1) — ERP implementation(g) 3,353 2,649 0.08 — — — (Gain) loss on equity investments(h) 1,468 1,159 0.03 (181) (143) — Loss on extinguishment of debt(i) — — — 737 582 0.02 Debt conversion inducement expense(j) — — — 46,681 46,681 1.33 Medical device regulations(k) 300 237 0.01 250 197 0.01 Other adjustments(l) 5,316 4,200 0.12 325 256 0.01 Tax adjustments(m) — 283 0.01 — 4,161 0.12 Impact of capped call option contracts(n) — — — — — 0.02 Adjusted net income (non-GAAP)$51,003 $41,295 $1.20 $55,609 $45,938 $1.31 (a) Income from continuing operations (GAAP) per diluted share amounts are calculated in accordance with GAAP using weighted average shares for diluted EPS. The per share amounts for the adjustments in the table above and adjusted net income are calculated using adjusted weighted average shares. For purposes of measuring diluted loss per share under GAAP, common stock equivalents were excluded from weighted average shares for the first quarter of 2025 as their inclusion would be anti-dilutive. However, for purposes of computing Adjusted EPS, the Company has included the impact of dilutive common stock equivalents for the first quarter of 2025. The following table provides a reconciliation from GAAP weighted average shares for diluted EPS to non-GAAP adjusted weighted average shares.
Three Months Ended April 03, 2026 March 28, 2025Weighted average shares for diluted EPS (GAAP)34,433 33,916 Add: Dilutive common stock equivalents— 2,036 Less: 2028 Convertible Notes capped call options impact— (803)Adjusted weighted average shares (non-GAAP)34,433 35,149
(b) The difference between pre-tax and net of tax amounts is the estimated tax impact related to the respective adjustment. Net of tax amounts are computed using a 21% U.S. tax rate, and the statutory tax rates applicable in foreign tax jurisdictions, as adjusted for the existence of net operating losses (“NOLs”). Expenses that are not deductible for tax purposes (i.e. permanent tax differences) are added back at 100%.
(c) Certain legal expenses associated with non-ordinary course legal matters.
(d) We initiate discrete restructuring programs primarily to realign resources to better serve our customers and markets, improve operational efficiency and capabilities, and lower operating costs or improve profitability. Depending on the program, restructuring charges may include termination benefits, contract termination, facility closure and other exit and disposal costs. Restructuring-related expenses are directly related to the program and may include retention bonuses, accelerated depreciation, consulting expense and costs to transfer manufacturing operations among our facilities.
(e) Acquisition and integration costs are incremental costs that are directly related to a business or asset acquisition. These costs may include, among other things, professional, consulting and other fees, system integration costs, and fair value adjustments relating to contingent consideration.
(f) Other general expenses are discrete transactions occurring sporadically and affect period-over-period comparisons.
(g) These adjustments represent direct and incremental costs incurred in connection with our implementation of a new global enterprise resource planning ("ERP") solution and related IT transition costs. An implementation of this scale is a significant undertaking and will require substantial time and attention of management and key employees. The associated costs do not represent normal and recurring operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance. Expenses for 2026 were primarily included in SG&A.
(h) Amounts reflect our share of equity method investee (gains) losses including unrealized appreciation/depreciation of the underlying interests of the investee.
(i) Loss on extinguishment of debt consists of accelerated write-offs of unamortized deferred debt issuance costs and discounts, which are included in interest expense.
(j) Debt conversion inducement expense relates to the partial exchange of the 2028 Convertible Notes and is recorded within Other loss, net in the Condensed Consolidated Statements of Operations.
(k) The charges represent incremental costs of complying with European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses.
(l) Other adjustments include costs which impact period-to-period comparability and do not represent the underlying ongoing results of our business. Amounts in 2026 primarily relate to costs associated with leadership transitions and a stockholder activist matter. Leadership transition costs primarily include severance costs associated with the departure of executives and incremental costs associated with the related leadership transitions. For the first quarter of 2026, leadership transition costs and stockholder activist related costs amounted to $1.4 million and $3.2 million, respectively.
(m) Tax adjustments predominately relate to changes to uncertain tax benefits and associated interest. During the first quarter of 2025 we wrote off a deferred tax asset of $4.1 million related to a portion of the unamortized original issue discount due to the partial exchange of the 2028 Convertible Notes.
(n) Represents the per share amount attributable to the reduction in dilution upon assumed exercise of the capped call option contracts.
Please see “Notes Regarding Non-GAAP Financial Information” for additional information regarding our use of non-GAAP financial measures.
Table B: Adjusted Operating Income Reconciliations
(in thousands)
Three Months Ended April 3,
2026 March 28,
2025Operating income (GAAP)$31,869 $49,552 Adjustments: Amortization of intangible assets 15,994 14,851 Certain legal expenses 208 102 Restructuring and restructuring-related charges 1,848 1,102 Acquisition and integration costs 1,442 4,742 Other general expenses 723 (1)ERP implementation 3,353 — Medical device regulations 300 250 Other adjustments 5,316 325 Adjusted operating income (non-GAAP)$61,053 $70,923
Table C: EBITDA and Adjusted EBITDA Reconciliations
(in thousands)
Three Months Ended April 3,
2026 March 28,
2025Income from continuing operations (GAAP)$16,506 $(22,465) Interest expense 9,734 14,805 Provision for income taxes 3,845 9,466 Depreciation(a) 17,343 13,986 Amortization of intangible assets and financing leases 17,668 15,846 EBITDA (non-GAAP) 65,096 31,638 Stock-based compensation(b) 5,307 6,851 Certain legal expenses 208 102 Restructuring and restructuring-related charges 1,848 1,102 Acquisition and integration costs 1,442 4,742 Other general expenses 723 (1)ERP implementation 3,353 — (Gain) loss on equity investments 1,468 (181)Debt conversion inducement expense — 46,681 Medical device regulations 300 250 Other adjustments 5,316 325 Adjusted EBITDA (non-GAAP)$85,061 $91,509 (a) Excludes amounts included in Restructuring and restructuring-related charges.
(b) Total stock-based compensation expense less amounts included in Restructuring and restructuring-related charges, ERP implementation, and Other adjustments.
GAAP
Reported
Growth Impact of
Foreign
Currency(a) Impact of
Strategic
Exits and
Acquisitions(a) Non-GAAP
Organic
ChangeQTD Change (1Q 2026 vs. 1Q 2025) Product Line Cardio & Vascular1.1% 0.5% 1.0% (0.4)%Cardiac Rhythm Management & Neuromodulation4.9% —% —% 4.9%Other Markets(47.3)% —% (36.3)% (11.0)%Total Sales0.5% 0.3% (1.1)% 1.3% (a) Sales growth has been adjusted to exclude the impact of foreign currency exchange rate fluctuations, when applicable, and strategic exits and acquisitions.
Table E: Net Total Debt Reconciliation
(in thousands)
April 3,
2026 December 31,
2025Total debt$1,251,527 $1,185,179Add: Debt discounts and deferred issuance costs included in Total debt 20,757 22,105Total principal amount of debt outstanding 1,272,284 1,207,284Less: Cash and cash equivalents 8,115 17,161Net Total Debt (Non-GAAP)$1,264,169 $1,190,123
Integer (ITGR - Free Report) came out with quarterly earnings of $1.2 per share, missing the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -0.66%. A quarter ago, it was expected that this medical device outsource manufacturer would post earnings of $1.7 per share when it actually produced earnings of $1.76, delivering a surprise of +3.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Integer, which belongs to the Zacks Medical - Instruments industry, posted revenues of $439.58 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.04%. This compares to year-ago revenues of $437.39 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Integer shares have added about 6.7% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for Integer?While Integer has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Integer was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.58 on $462.92 million in revenues for the coming quarter and $6.47 on $1.85 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Si-Bone (SIBN - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.
This medical device maker is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -13.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Si-Bone's revenues are expected to be $51.33 million, up 8.5% from the year-ago quarter.
For the quarter ended March 2026, Integer (ITGR - Free Report) reported revenue of $439.58 million, up 0.5% over the same period last year. EPS came in at $1.20, compared to $1.31 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $426.6 million, representing a surprise of +3.04%. The company delivered an EPS surprise of -0.66%, with the consensus EPS estimate being $1.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Integer performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Medical Sales- Other Markets: $9.58 million versus $11.17 million estimated by three analysts on average.Sales- Medical Sales- Cardio & Vascular: $261.73 million versus the three-analyst average estimate of $255.39 million. The reported number represents a year-over-year change of +1.1%.Sales- Medical Sales- Cardiac Rhythm Management & Neuromodulation: $168.26 million versus $158.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.View all Key Company Metrics for Integer here>>>
Shares of Integer have returned -3.2% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Key Takeaways ITGR reported Q1 adjusted EPS of $1.20, down 8.4% Y/Y and missing estimates.ITGR posted $439.6M in revenues, up 0.5% Y/Y, beating estimates on solid product-line sales.ITGR guides 2026 revenues down 1-3% and EPS at $5.83-$6.40 amid product headwinds. Integer Holdings Corporation (ITGR - Free Report) delivered adjusted earnings per share (EPS) of $1.20 in the first quarter of 2026, which declined 8.4% year over year. The figure missed the Zacks Consensus Estimate by 0.8%.
The adjustments include expenses related to the amortization of intangible assets and restructuring and restructuring-related charges, among others.
GAAP EPS for the quarter was 48 cents, up 172.7% from the prior-year quarter.
ITGR’s Revenues in DetailInteger Holdings registered revenues of $439.6 million in the first quarter, up 0.5% year over year. The figure topped the Zacks Consensus Estimate by 3%.
Organically, revenues increased 1.3%.
Robust sales from the majority of the product lines drove the company’s top line in the reported period.
Integer Holdings’ Q1 Segmental AnalysisInteger Holdings operates through three product lines — Cardio and Vascular (C&V); Cardiac Rhythm Management & Neuromodulation (CRM&N) and Other Markets.
During the fourth quarter of 2025, management began referring to ITGR’s Advanced Surgical, Orthopedics & Portable Medical product line as the Other Markets product line. This was aimed at better capturing the evolving nature of the company’s products and ongoing strategic focus. Per management, the name change has no impact on the financial information previously reported.
In the first quarter of 2026, the C&V segment generated revenues of $262 million, reflecting a modest 1% year-over-year increase. Growth in the segment was primarily supported by continued strength in neurovascular and contributions from prior acquisitions. However, performance was partially offset by lower electrophysiology sales, mainly related to previously disclosed headwinds from certain new products.
The CRM&N segment reported revenues of $168 million, up 5% year over year. Growth was driven by solid performance in the cardiac rhythm management business, which more than offset ongoing weakness in neuromodulation. The neuromodulation decline was consistent with prior expectations and reflects previously communicated product-related headwinds.
Revenues from Other Markets declined year over year, primarily due to the continued impact of Integer Holdings’ strategic exit from the Portable Medical business. This segment remains outside the company’s core growth focus and largely reflects legacy manufacturing service agreements tied to divested operations.
ITGR’s Margin AnalysisInteger Holdings generated a gross profit of $109.6 million in the first quarter, down 8.9% year over year. The gross margin in the reported quarter contracted 260 basis points (bps) to 24.9%. We projected 26.4% of gross margin for the first quarter.
Selling, general and administrative expenses were $58.7 million, up 14.8% year over year. Research, development and engineering costs were $16.2 million in the quarter, up 14.4% year over year. Total operating expenses of $77.7 million increased 9.8% year over year.
Adjusted operating profit totaled $61.1 million, reflecting a decline of 13.9% from the prior-year quarter. Adjusted operating margin in the first quarter contracted 230 bps to 13.9%.
Integer Holdings’ Financial PositionInteger Holdings exited the first quarter of 2026 with cash and cash equivalents of $8.1 million compared with $17.2 million at the fourth-quarter end. Total debt (including the current portion) at the end of first-quarter 2026 was $1.25 billion, up from $1.19 billion at the end of the fourth quarter.
Net cash flow from operating activities at the end of first-quarter 2026 was $24.7 million compared with $31.3 million a year ago.
ITGR’s 2026 GuidanceInteger Holdings updated its 2026 outlook.
For 2026, the company now expects revenues in the range of $1.805-$1.835 billion, implying a decline of 1-3% on a reported basis from the 2025 level. On an organic basis, sales are projected to be flat to down 1%. The Zacks Consensus Estimate is pegged at $1.85 billion.
Adjusted EPS are now expected in the band of $5.83-$6.40, implying a range from flat to a 9% decline year over year. The Zacks Consensus Estimate is pegged at $6.47 per share.
Our TakeInteger Holdings exited the first quarter of 2026 with mixed results.
The modest top-line growth, coupled with a contraction in adjusted operating margin due to lower fixed-cost absorption, reflects ongoing near-term pressures on operating leverage.
On the segmental front, performance remained uneven. The Cardio & Vascular business delivered modest growth, though electrophysiology sales were impacted by previously communicated headwinds from certain new products. Meanwhile, strength in Cardiac Rhythm Management supported the CRM&N segment, partially offset by continued softness in neuromodulation. The company also maintained disciplined cost control and benefited from lower interest expense, which provided some support to earnings despite margin pressures.
Management’s revised 2026 outlook remains a key overhang. The company now expects revenues to decline 1-3% year over year, indicating customer forecast reductions and headwinds from certain new products. While the underlying business, excluding these headwinds, is still expected to grow in the low to mid-single digits, 2026 is shaping up to be a transition year, with growth expected to normalize exiting the year and reaccelerate in 2027.
However, shares of ITGR gained 5.8% in yesterday’s trading session. ITGR stock has gained 12.9% in the year-to-date period against the industry’s 17.4% decline. However, the S&P 500 Index has increased 6.2% during the same time frame.
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Integer Holdings’ Zacks Rank & Key PicksInteger Holdings currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space that are expected to report earnings soon are DexCom, Inc. (DXCM - Free Report) , Encompass Health Corporation (EHC - Free Report) and The Cooper Companies, Inc. (COO - Free Report) .
The Zacks Consensus Estimate for DexCom’s first-quarter 2026 adjusted EPS is currently pegged at 47 cents. The consensus estimate for revenues is pegged at $1.18 billion. DXCM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DexCom has an estimated long-term growth rate of 20.6%. DXCM’s earnings yield of 4.1% compares favorably with the industry’s negative yield.
Encompass Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.51. The same for revenues is pegged at $1.57 billion.
Encompass Health has an estimated long-term growth rate of 8.8%. EHC’s earnings yield of 5.9% compares favorably with the industry’s 5.6%.
Cooper Companies currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its second-quarter fiscal 2026 adjusted EPS is currently pegged at $1.10. The same for its revenues is pegged at $1.05 billion.
Cooper Companies has an estimated long-term growth rate of 8.4%. COO’s earnings yield of 7.2% compares favorably with the industry’s 6.1%.
Integer Holdings reported quarterly earnings of $1.20 per share which beat the analyst consensus estimate of $1.19 per share. The company reported quarterly sales of $439.580 million which beat the analyst consensus estimate of $426.477 million.
Integer Holdings cut its FY2026 adjusted EPS guidance from $6.29-$6.78 to $5.83-$6.40 vs and lowered FY2026 sales guidance from $1.826B-$1.876B to $1.805B-$1.835B.
Integer shares fell 5.6% to trade at $83.60 on Friday.
These analysts made changes to their price targets on Integer following earnings announcement.
Piper Sandler analyst Matt O’Brien reiterated Integer Holdings with an Overweight rating and raised the price target from $87 to $97. Citigroup analyst Joanne Wuensch maintained the stock with a Neutral and lowered the price target from $92 to $89. Considering buying ITGR stock? Here’s what analysts think:
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Investors were eager to own shares of medical device company Integer Holdings (ITGR 0.35%) on Wednesday. This was due largely to an analyst's recommendation upgrade; that pundit now believes the company's equity is a buy.
It's now a buy, says pundit That prognosticator was Oppenheimer's Suraj Kalia, who upped his recommendation on Integer to outperform (read: buy) from the previous perform (hold). In doing so, Kalia set a price target of $115 per share.
Image source: Getty Images.
Kalia's move was based largely on Integer's recent announcement that it is conducting a "strategic review" of its business, according to reports. Such a term indicates that it is considering selling itself to an outside party, ideally for a premium to its current price.
Integer functions as a contract development and manufacturing organization (CDMO) for business outsourcing the production of medical devices. In the analyst's view, this, along with its modest valuations and share price, makes it an attractive target for private equity firms -- according to Kalia's research, several are interested in the medical device CDMO business.
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This sleeper might awaken Integer operates in a limited but profitable niche, and it tends to post top-line growth and high net margins. It's a somewhat under-the-radar healthcare stock that qualifies as a sleeper play these days. That might not last, however, if potential investors start showing notable interest.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
On May 13, 2026, Integer Holdings Corp ITGR shares rose 5.2% to $89.39. The stock has experienced a 52-week range between $62.00 and $123.78, indicating significant volatility. Despite today’s positive movement, ITGR's performance over the past year shows a decline of 26.1%.
GF Value™ verdict: Current price at $89.39 vs GF Value™ of $117.20, representing a 23.7% undervaluation.GF Score™ of 84/100, indicating strong overall performance.Most notable signal: Insider activity shows that insiders sold $0.1M in the last 3 months, with no buying activity. Is ITGR Overvalued or Undervalued? Integer Holdings Corp ITGR is currently trading at $89.39, which is significantly below the GF Value™ estimate of $117.20, indicating a 23.7% margin of safety for potential investors. The GF Valuation label categorizes ITGR as modestly undervalued, suggesting that the stock price does not fully reflect the company's intrinsic value.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current price relative to the GF Value™, ITGR presents an opportunity for investors looking for undervalued stocks, though caution is warranted due to the overall decline in share price over the past year and the lack of insider buying activity.
How Does ITGR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 22.4x 36.9x Forward P/E 14.6x N/A ITGR's current P/E (TTM) of 22.4x is 39% below its 5-year median P/E of 36.9x, indicating that the stock is trading at a lower valuation than it has historically. This analysis aligns with the GF Value™ verdict of being undervalued, suggesting that there may be a buying opportunity for value-oriented investors.
What Does ITGR's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).
Metric Rating GF Score™ 84 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 5/10 The GF Score™ of 84/100 indicates that ITGR has strong fundamentals, particularly in profitability and valuation, with ratings of 8/10 in both categories. However, the financial strength score of 5/10 suggests moderate risk, while the momentum score of 5/10 indicates that the stock may not be experiencing strong upward trends. Overall, the scores highlight ITGR's potential for long-term growth, tempered by some risk factors.
What Are Insiders Doing with ITGR Stock? Insider activity for Integer Holdings Corp ITGR has shown a lack of confidence in the stock's near-term prospects, as insiders sold $0.1 million worth of shares in the past three months without any purchasing activity. This pattern may suggest that insiders are not bullish on the company's short-term performance, which is a factor worth considering for potential investors.
Overall, while the absence of insider buying could be seen as a negative signal, it is essential to consider it alongside the stock's valuation and performance metrics.
What This Means for Investors Based on the analysis of GF Value™, Integer Holdings Corp ITGR is currently undervalued. The stock price is significantly below its intrinsic value, presenting potential opportunities for investors looking to capitalize on its undervaluation. However, caution is warranted due to the stock's recent performance and insider selling activity.
For the complete analysis, visit the Integer Holdings Corp ITGR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is ITGR's GF Score™?
ITGR has a GF Score™ of 84/100, which indicates strong overall performance and potential for higher long-term returns.
Is ITGR overvalued or undervalued?
ITGR is currently undervalued, with a GF Value™ of $117.20 compared to its current price of $89.39, suggesting a 23.7% margin of safety.
What is ITGR's P/E ratio?
ITGR's current P/E (TTM) is 22.4x, which is significantly lower than its 5-year median P/E of 36.9x, indicating that the stock is trading at a lower valuation than it historically has.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Sea Cliff Partners Management disclosed a purchase of 55,359 Integer Holdings (ITGR 0.35%) shares in its May 15, 2026, SEC filing, an estimated $4.71 million trade based on quarterly average pricing.
What happenedAccording to its SEC filing dated May 15, 2026, Sea Cliff Partners Management increased its position in Integer Holdings (ITGR 0.35%) by 55,359 shares during the first quarter. The estimated value of this trade was $4.71 million, based on the quarter’s average share price. The quarter-end position was worth $16.57 million. The net position change, including market movement, was $6.14 million higher than the prior quarter.
What else to knowThis was a buy; Integer Holdings now accounts for 8.56% of the fund’s 13F assets under management.Top five holdings post-filing:NASDAQ: BTSG: $33.43 million (17.3% of AUM)NYSE: WCC: $23.59 million (12.2% of AUM)NYSE: LTH: $17.70 million (9.1% of AUM)NASDAQ: OKTA: $17.32 million (8.9% of AUM)NYSE: ITGR: $16.57 million (8.6% of AUM)As of May 14, 2026, ITGR shares were priced at $89.82, down 25% over the past year and lagging the S&P 500 by over 50 percentage points.Company OverviewMetricValueRevenue (TTM)$1.85 billionNet Income (TTM)$141.80 millionMarket Capitalization$3 billionPrice (as of market close 2026-05-14)$89.82Company SnapshotInteger Holdings produces a diverse range of medical devices and components, including products for interventional cardiology, cardiac rhythm management, neuromodulation, orthopedic surgery, and surgical instruments.The firm operates as a contract manufacturer, generating revenue by designing, developing, and manufacturing devices and sub-assemblies for original equipment manufacturers in the healthcare sector.It serves multinational OEMs and their subsidiaries in cardiac, neuromodulation, orthopedics, vascular, and advanced surgical markets, with a global customer base.Integer Holdings is a leading medical device outsource manufacturer with a broad portfolio serving the global healthcare industry. The company leverages advanced manufacturing capabilities and deep engineering expertise to deliver high-quality products for complex medical applications. Its scale, technical know-how, and diversified customer relationships underpin a competitive position in the medical device supply chain.
What this transaction means for investorsThis buy ultimately looks like a calculated bet that Integer Holdings’ recent weakness may have created an opportunity ahead of a potentially transformative moment for the company. While the purchase happened before management announced a strategic review on April 30, the timing is still notable given the board later said it would explore options including a sale, merger, or other strategic combination.
The market had already been souring on Integer before that announcement. Shares were down 25% over the past year as investors worried about slowing growth and temporary headwinds tied to several new products. First-quarter results reflected some of that pressure. Sales rose just 0.5% to $440 million, while adjusted operating income fell 14% to $61 million. Management also lowered parts of its 2026 outlook and flagged customer forecast changes and broader market dynamics.
For long-term investors, the story now hinges on whether operational growth reaccelerates in 2027 as management said it expects, or whether the strategic review unlocks value sooner through a transaction.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Okta and Wesco International. The Motley Fool has a disclosure policy.
Integer Holdings Corp. is a unique, high-quality medical device CDMO trading at a depressed ~10x EBITDA multiple after a temporary growth slowdown. A strategic review, prompted by activist involvement and heightened buyer interest, positions ITGR for a likely sale within three to four months. Precedent CDMO transactions support a fair value of $110–125/share (13–14x forward EBITDA), offering 20–40% upside with limited downside risk.
PLANO, Texas, June 03, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading medical device contract development and manufacturing organization, today announced participation in the Truist Securities 2026 MedTech Conference, to be held June 16, 2026. Members of the Integer executive leadership team will participate in a fireside chat on Tuesday, June 16 at 10:40 a.m. ET.
A live webcast and replay will be accessible under “News & Events” on the Investor Relations section of Integer’s website at investor.integer.net.
Learn more about Integer at www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Key Takeaways Integer expects 2026 organic sales to be flat to down 1% after slower ramps and customer forecast changes.ITGR said three newer products may reduce 2026 sales growth by about 3% to 4%.ITGR Q1 revenue rose 0.5%, but margins narrowed due to lower absorption and higher expenses. Integer Holdings (ITGR - Free Report) is entering 2026 with a reset outlook that reflects more cautious customer signals and slower-than-expected ramps in a few newer programs. Management now expects organic sales to be flat to down 1% for 2026.
Adjusted earnings per share are expected to be in the range of $5.83-$6.40 after an April risk adjustment tied to customer forecast updates and slower ramps in new programs.
ITGR Sets the Stage With a Reset 2026 OutlookThe updated framing emphasizes execution and timing. Revenues are now expected to be in the range of $1.805-$1.835 billion, implying a 1% to 3% decline on a reported basis compared with 2025.
The profit outlook has also been lowered. Adjusted earnings per share is now expected in the range of $5.83-$6.40, implying flat to 9% year-over-year decline and reflecting the impact of customer forecast revisions and slower program ramps.
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Integer’s Business Mix Shows Where Growth Still ExistsInteger’s mix matters because the company’s three product lines are moving in different directions. Cardio & Vascular is the largest business, representing 59.7% of 2025 revenues. Cardiac Rhythm Management & Neuromodulation is the second pillar at 36.1%, while Other Markets is much smaller at 4.2% and shrinking as the company exits Portable Medical.
That mix showed up clearly in the first quarter. Cardio & Vascular revenue rose 1% year over year to $262 million, supported by neurovascular strength and contributions from prior acquisitions, even as certain electrophysiology programs remained soft.
Cardiac Rhythm Management & Neuromodulation revenue increased 5% to $168 million, with cardiac rhythm management growth more than offsetting weakness in neuromodulation. Other Markets declined, reflecting the ongoing Portable Medical exit and legacy manufacturing service agreements tied to divested operations.
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ITGR’s New Products Are the Near-Term DragThe most immediate headwind is the slower adoption of three recently launched products. Two are in electrophysiology, and one is in neuromodulation. Management expects these programs to reduce 2026 sales growth by about 3% to 4%.
That dynamic helps explain why the outlook was tightened despite resilience in core franchises. Until adoption normalizes, the newer programs can weigh on both volume and operational rhythm, especially when customers adjust their own schedules and ordering patterns.
Integer’s OEM Forecast Swings Limit Margin RecoveryInteger’s revenue timing is highly dependent on original equipment manufacturer ordering patterns and forecast updates, particularly in fast-moving electrophysiology. Management stated that it typically has better visibility for only the next one to two quarters through purchase orders, while rolling 12-month forecasts can be revised as customer manufacturing plans change.
That limited visibility matters operationally. When ordering shifts, plant utilization can move quickly, and the company has less ability to fully control near-term utilization and margins. In the first quarter, lower fixed-cost absorption was a key factor behind margin pressure.
ITGR’s Q1 Print Shows Resilience but Not EnoughFirst-quarter revenues were $439.6 million, up 0.5% year over year, and exceeded the Zacks Consensus Estimate by 3%. Organic revenue increased 1.3%, indicating the core portfolio continued to hold up despite drag from new-product ramps and the Portable Medical exit.
Adjusted earnings per share were $1.20, down 8.4% year over year and a modest miss versus the consensus estimate. Profitability was the bigger issue. Gross margin contracted 260 basis points to 24.9%, and adjusted operating margin fell 230 basis points to 13.9%, due to lower absorption and higher operating expenses.
This is the crux of the near-term setup: the top line is not collapsing, but margin recovery is being delayed while utilization remains constrained and newer programs ramp more slowly than planned.
Integer’s Valuation Looks Cheaper, but the Report Is CautiousITGR trades at 14.3X forward 12-month earnings, below the Zacks sub-industry of 24.3X, the Zacks sector at 19.5X, and the S&P 500 at 21.9X. Over the last five years, ITGR’s forward multiple has ranged from 9X to 24.9X, with a median of 17.8X.
The discount is notable, especially as investors compare ITGR with other Medical - Instruments names such as Globus Medical (GMED - Free Report) and Masimo Corporation , which are included in the same peer set. Still, the setup remains sensitive to execution, leverage and the timing of new-product adoption. Total debt was $1.25 billion at the end of the first quarter, and the company’s debt-to-capital ratio of 0.44 remains above the industry’s 0.28.
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ITGR’s Bottom Line for ReadersInteger has a pipeline and partnership model that can lift growth once electrophysiology ordering stabilizes, but near-term downside risks remain the dominant factor. The path to improved utilization and margin recovery still depends on customer ordering patterns and a return to more normal ramp behavior in the three newer products.
With Zacks Rank #4 (Sell) and a $77 price target, the risk-reward profile remains pressured until electrophysiology volatility eases and adoption timing becomes more dependable.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
