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PLANO, Texas - Integer Holdings Corporation (NYSE:ITGR), a medical device contract development and manufacturing organization with a market capitalization of $4.25 billion, announced Thursday the appointment of Michael Coyle to its Board of Directors. According to InvestingPro data, the company has demonstrated strong performance with 10.19% revenue growth over the last twelve months.
Coyle, who brings over 40 years of medical device industry experience, will serve on the company’s Audit Committee, Compensation & Organization Committee, and Technology Strategy Committee.
Most recently, Coyle served as president and CEO of iRhythm Technologies, a digital healthcare company. His previous roles include executive vice president and group president of Medtronic’s cardio and vascular group, along with leadership positions at St. Jude Medical and Eli Lilly.
Currently, Coyle serves as a director on the boards of Haemonetics Corporation and BaroPace. He holds a master’s degree in business administration from the Wharton School of Business at the University of Pennsylvania and a bachelor’s degree from Case Western Reserve University. Additionally, he holds six U.S. patents related to cardiovascular medical device products and technologies.
"We are pleased to welcome Michael Coyle, whose extensive medical device industry experience and proven leadership in global business and technology will contribute significantly to our strategic initiatives," said Pamela Bailey, Integer Board Chair, according to the company’s press release.
Joseph Dziedzic, Integer’s president and CEO, stated that Coyle’s expertise would contribute to the company’s contract development and manufacturing outsourcing strategy.
Integer Holdings Corporation describes itself as one of the largest medical device contract development and manufacturing organizations globally, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. InvestingPro analysis shows the company maintains a strong financial position with a current ratio of 3.4, indicating robust liquidity. With its next earnings report due on July 24, analysts maintain a strong buy consensus, suggesting positive momentum ahead. For deeper insights into Integer’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Integer Holdings Corporation reported first-quarter results that exceeded analyst expectations, with revenue reaching $437.39 million, surpassing the consensus estimate of $428.51 million. This represented a 7% year-over-year increase, driven by a 17% rise in the Cardio & Vascular segment. The company also raised its full-year adjusted earnings per share (EPS) guidance to a range of $6.15 to $6.51, up from the previous consensus of $6.07. Citi analysts upgraded Integer’s stock rating from Neutral to Buy, increasing the price target to $140, acknowledging the company’s strong first-quarter performance and management’s guidance. Additionally, Truist Securities raised the price target for Integer to $150, maintaining a "Buy" rating, citing the company’s growth prospects and financial performance. Piper Sandler maintained its Overweight rating and $155 price target, highlighting Integer’s strategic positioning in high-growth medical technology markets. Furthermore, Integer announced corporate governance changes following a stockholder vote, amending its charter and bylaws to protect certain officers from monetary liability in specific situations.
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