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ITGRInteger Holdings Corp

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Company Info

CEO

Joseph W. Dziedzic

Location

Texas, USA

Exchange

NYSE

Website

https://integer.net

Summary

Medical device outsource manufacturer offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures.

Company Info

CEO

Joseph W. Dziedzic

Location

Texas, USA

Exchange

NYSE

Website

https://integer.net

Summary

Medical device outsource manufacturer offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures.

AI Insights for ITGR
2 min read

Quick Summary

Integer Holdings Corp is a leading global medical device outsource manufacturer headquartered in Frisco, Texas. The company specializes in designing and manufacturing advanced medical devices for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures. Integer also provides products in the cardiac rhythm management space, such as implantable pacemakers and cardioverter defibrillators. Its main customers include major medical device companies and healthcare providers requiring complex, high-reliability products for acute therapies. Integer supports its customers through contract development and manufacturing of devices used in critical healthcare applications, helping to bring innovative products to market efficiently.

The Bull Case

  • Integer Holdings possesses robust expertise in medical device design, manufacturing, and innovation, serving as a trusted contract manufacturer for leading medical technology firms.
  • Its diverse product portfolio spans across high-growth healthcare segments, including cardiovascular, neurovascular, and structural heart therapies.
  • The company benefits from strong customer relationships and a substantial sales backlog that provides visibility into future revenue streams.
  • Integer’s track record for operational excellence has resulted in multiple consecutive earnings surprises and strong organic sales growth over several quarters.
  • The recent acquisition of InNeuroCo and ongoing investment in R&D reinforce its position in fast-evolving medical technology markets.

The Bear Case

  • Integer faces challenges from a reliance on a limited set of suppliers, creating vulnerability in its supply chain and potential for operational disruptions.
  • The company has reduced its near-term sales and earnings outlook due to adoption delays for key new products and a slowdown in demand for certain device categories.
  • As a contract device manufacturer, Integer also competes in a crowded industry, facing pricing and innovation pressure from both established and emerging rivals.
  • Margins are susceptible to shifts in product mix, customer adoption cycles, and cost inflation.
  • Recent management transitions and missed profitability targets have caused investor uncertainty.

Key Risks

  • Integer faces external risks such as slower-than-expected adoption of its new products, particularly in electrophysiology and portable medical devices, which could weigh on revenue and profitability.
  • Supply chain disruptions, component shortages, and supplier concentration increase operational risk.
  • Integer competes in a sector with rapid technological change and intense pricing competition, creating pressure to innovate continuously.
  • Regulatory hurdles and healthcare reimbursement changes may affect demand or increase compliance costs.

What to Watch

UpcomingIn the latest reported quarter, Integer Holdings announced 8% sales growth and a 12% rise in net income, signaling continued operational improvement.
UpcomingHowever, the company revised its 2025 guidance downward due to ongoing headwinds, forecasting slower sales growth than previously expected, and signaled potential flat or minimal growth for 2026.
UpcomingThe company also highlighted a strong $730 million backlog and revealed that operational headwinds stemmed mostly from two recently launched electrophysiology products.
ExpectedLooking into the next quarter, the company is expected to focus on operational efficiency and margin management in response to recent headwinds.

Price Drivers

  • Integer Holdings' stock price is mainly driven by its quarterly earnings results, growth in sales, and net income figures.
  • Revision of guidance, like the recent reduction in 2025 sales and earnings forecasts, can lead to sharp price swings, as seen in a recent 32% plunge.
  • Other key factors include product innovation, successful new product launches, and backlog strength, which underpin longer-term investor confidence.
  • Macroeconomic headwinds, supply chain challenges, and the pace of medical device adoption also affect share price.

Recent News

  • Recent news highlights include Integer Holdings’ 32% stock plunge after lowering its 2025 outlook, citing headwinds and slower adoption of new products.
  • The company reported strong Q3 results with 8% sales growth and 25% jump in EPS, though future guidance was tempered.
  • CEO Joseph Dziedzic announced retirement, with COO Payman Khales set to take over as President and CEO, signaling leadership changes.
  • Integer completed the acquisition of InNeuroCo to strengthen its neurovascular offerings and continues to manage a large sales backlog.

Market Trends

  • The broader medical devices sector is experiencing rapid innovation, driven by demand for minimally invasive procedures, increasing prevalence of chronic diseases, and ongoing recovery from pandemic-related disruptions.
  • Companies are heavily investing in R&D and digital platforms to streamline workflows and improve patient outcomes.
  • Market consolidation and strategic acquisitions are common as firms seek to expand portfolios and geographic reach.
  • Supply chain stability and operational efficiency remain key industry themes.

AI-generated summary. Not investment advice. DYOR.

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