Integer Holdings Corporation (ITGR) Stock: Soars 6% as Adjusted EBITDA Hits $402M Amid Accelerated Repurchase Plan

TLDR

• Integer jumps 6.38% to $92 after strong 2025 earnings
• Full year revenue rises 8% to $1.85B on solid demand
• Adjusted EPS climbs 21% despite GAAP income dip
• Cardio & Vascular leads growth with 17% annual gain
• Board approves $50M accelerated share repurchase plan

Integer Holdings Corporation (ITGR) shares advanced sharply after reporting higher adjusted earnings and outlining a new share repurchase plan. The stock rose 6.38% to $92.00 following the release. The medical device manufacturer posted solid full year growth and reaffirmed its 2026 outlook.

Integer Holdings Corporation, ITGR
Integer Holdings Corporation reported 8% sales growth for full year 2025. Revenue reached $1.854 billion compared with $1.716 billion in 2024. Adjusted EBITDA increased 12% to $402 million, reflecting operating leverage and acquisitions.

Adjusted operating income rose 13% to $321 million for the year. Adjusted earnings per share increased 21% to $6.40. GAAP net income from continuing operations declined 15% to $103 million.

During the fourth quarter, sales increased 5% to $472 million. Adjusted operating income rose 10% to $83 million. Adjusted net income climbed 22% to $62 million, while adjusted EPS reached $1.76.

Segment Performance Drives Organic Growth Momentum

Cardio and Vascular revenue increased 11% in the fourth quarter to $284 million. The company benefited from the Precision Coating and VSi Parylene acquisitions. Strong Neurovascular demand also supported growth.

For the full year, Cardio and Vascular sales rose 17% to $1.107 billion. New Electrophysiology product ramps contributed to higher volumes. Acquisition contributions further expanded the segment’s revenue base.

Cardiac Rhythm Management and Neuromodulation revenue declined 2% in the fourth quarter to $167 million. Lower Neuromodulation demand offset stable Cardiac Rhythm Management performance. Full year segment sales increased 1% to $669 million despite planned customer declines.

Other Markets revenue decreased 13% in the fourth quarter to $21 million. Full year sales fell 27% to $78 million. The decline reflected the ongoing exit from the Portable Medical business announced earlier.

Accelerated Share Repurchase Plan and 2026 Outlook

Integer generated $196 million in operating cash flow during 2025. The company increased total debt to $1.185 billion to fund acquisitions and repurchases. Net leverage stood at 3.0 times adjusted EBITDA at year end.

Management tightened its 2026 outlook around the midpoint of its prior guidance. The company maintained the high end of its adjusted EPS growth range. It also projected 200 basis points above market organic growth in 2027.

The board authorized an accelerated share repurchase of approximately $50 million. The company plans to fund the program with cash and credit facility borrowings. The final share count will depend on volume weighted average prices during the repurchase period.

Integer operates as a contract development and manufacturing organization for medical device companies. The company supports cardiovascular, neuromodulation, and other specialized markets. With acquisitions and disciplined capital deployment, Integer targets sustained earnings expansion and long term shareholder value.

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