Medical Device Manufacture Integer To Gain From Expanding Pulsed Field Ablation Market, Earns Upgrade From BofA
Medical Device Manufacture Integer To Gain From Expanding Pulsed Field Ablation Market, Earns Upgrade From BofA
BofA Securities upgraded Integer Holdings Corporation (NYSE:ITGR), citing the anticipated growth in pulsed field ablation (PFA) for treating atrial fibrillation.
Integer is one of the largest medical device outsourcing manufacturers, serving the cardiac rhythm management, neuromodulation, vascular, portable medical, and orthopedics markets.
The analyst expects the PFA sales to surge from $100 million-200 million in 2023 to over $2 billion in 2025.
Integer supplies key components for major PFA devices by Boston Scientific Corporation (NYSE:BSX), Medtronic Plc (NYSE:MDT), and Johnson & Johnson (NYSE:JNJ).
Integer has not quantified potential PFA contributions other than calling it a "tailwind." BofA analysts expect some benefit to show up in 2H24 as more PFA devices are rolled out in the U.S., but will accelerate in 2025.
BofA foresees upcoming PFA device launches, potentially adding up to $90 million in extra revenue by 2025 and boosting Integer's performance by 200-300 basis points. The analyst upgrades Integer from Neutral to Buy with a price target of $135, up from $105.
BofA models ~8% revenue growth for Integer in 2025 (vs. Street's 7%) and says that PFA growth opportunity suggests potential for upside.
In 2024, management's outlook on its PFA opportunity appears more optimistic than in the previous year.
They emphasize their exposure to various players in the PFA market and anticipate benefiting from its uptake regardless of which company dominates the market.
Integer maintains customer confidentiality, yet it likely serves key industry players, the analyst writes.
The company produces various components for each customer, from individual parts to finished devices. Recent acquisitions like Oscor and Pulse have bolstered its product offering. Integer stands to gain from wider adoption of its products, particularly depending on the popularity of specific devices.
Price Action: ITGR shares are up 3.45% at $119.76 on the last check Monday.
Photo via Shutterstock
BofA Securities upgraded Integer Holdings Corporation (NYSE:ITGR), citing the anticipated growth in pulsed field ablation (PFA) for treating atrial fibrillation.
美銀證券對Integer Holdings Corporation（紐約證券交易所代碼：ITGR）進行了上調，理由是用於治療心房顫動的脈衝場消融術（PFA）的預期增長。
Integer is one of the largest medical device outsourcing manufacturers, serving the cardiac rhythm management, neuromodulation, vascular, portable medical, and orthopedics markets.
Integer 是最大的醫療器械外包製造商之一，服務於心律管理、神經調節、血管、便攜式醫療和骨科市場。
The analyst expects the PFA sales to surge from $100 million-200 million in 2023 to over $2 billion in 2025.
該分析師預計，PFA的銷售額將從2023年的1億至2億美元激增至2025年的20億美元以上。
Integer supplies key components for major PFA devices by Boston Scientific Corporation (NYSE:BSX), Medtronic Plc (NYSE:MDT), and Johnson & Johnson (NYSE:JNJ).
Integer爲波士頓科學公司（紐約證券交易所代碼：BSX）、美敦力公司（紐約證券交易所代碼：MDT）和強生公司（紐約證券交易所代碼：JNJ）的主要PFA設備提供關鍵組件。
Integer has not quantified potential PFA contributions other than calling it a "tailwind." BofA analysts expect some benefit to show up in 2H24 as more PFA devices are rolled out in the U.S., but will accelerate in 2025.
除了稱其爲 “順風” 外，Integer沒有量化PFA的潛在貢獻。美銀分析師預計，隨着更多PFA設備在美國推出，24下半年將出現一些好處，但將在2025年加速推進。
BofA foresees upcoming PFA device launches, potentially adding up to $90 million in extra revenue by 2025 and boosting Integer's performance by 200-300 basis points. The analyst upgrades Integer from Neutral to Buy with a price target of $135, up from $105.
美國銀行預計，PFA設備即將推出，到2025年，有可能增加高達9000萬美元的額外收入，並將Integer的業績提高200-300個點子。分析師將Integer從中性上調至買入，目標股價爲135美元，從105美元上漲。
BofA models ~8% revenue growth for Integer in 2025 (vs. Street's 7%) and says that PFA growth opportunity suggests potential for upside.
美國銀行預測2025年Integer的收入將增長約8％（而Street的增長率爲7％），並表示PFA的增長機會表明了上行潛力。
In 2024, management's outlook on its PFA opportunity appears more optimistic than in the previous year.
2024年，管理層對其PFA機會的前景似乎比上年更加樂觀。
They emphasize their exposure to various players in the PFA market and anticipate benefiting from its uptake regardless of which company dominates the market.
他們強調對PFA市場各種參與者的敞口，並預計無論哪家公司在市場上佔據主導地位，都將從其吸收中受益。
Integer maintains customer confidentiality, yet it likely serves key industry players, the analyst writes.
分析師寫道，Integer維護客戶機密性，但它可能爲關鍵行業參與者提供服務。
The company produces various components for each customer, from individual parts to finished devices. Recent acquisitions like Oscor and Pulse have bolstered its product offering. Integer stands to gain from wider adoption of its products, particularly depending on the popularity of specific devices.
該公司爲每個客戶生產各種組件，從單個零件到成品設備。最近的收購，例如Oscor和Pulse，增強了其產品供應。Integer將從其產品的更廣泛採用中獲益，這尤其取決於特定設備的受歡迎程度。
Price Action: ITGR shares are up 3.45% at $119.76 on the last check Monday.
價格走勢：週一的最後一次支票中，ITGR股價上漲3.45％，至119.76美元。
Photo via Shutterstock
照片來自 Shutterstock
譯文內容由第三人軟體翻譯。
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