Integer Holdings Corporation ITGR reported third-quarter 2020 adjusted earnings per share (EPS) of 50 cents, which outpaced the Zacks Consensus Estimate of 32 cents by 56.3%. However, the bottom line plunged 58.3% on a year-over-year basis.Revenues declined 22.3% year over year to $235.9 million on a reported basis. Nonetheless, the top line beat the Zacks Consensus Estimate by 2.7%.Segmental AnalysisInteger Holdings operates through two segments — Medical Sales and Non-Medical Sales.Medical SalesAt the segment, reported revenues were $227.7 million, down 21.3% year over year. Revenues declined 22.3% from the prior-year quarter on an organic basis.Medical Sales has three sub-segments — Advanced Surgical, Orthopedics and Portable Medical (AS&O); Cardio & Vascular; and Cardiac & Neuromodulation.Advanced Surgical, Orthopedics and Portable MedicalInteger Holdings’ Advanced Surgical, Orthopedics & Portable Medical segment has been divested to Viant. Consequently, revenues at the segment comprise net sales from acquirer Viant under supply agreements associated with the divestiture.Revenues amounted to $30.2 million, down 12% year over year and 12.2% on an organic basis. Per management, the downside was due to the impact of the COVID-19 pandemic and a blend of customers’ responses.Integer Holdings Corporation Price, Consensus and EPS Surprise Integer Holdings Corporation price-consensus-eps-surprise-chart | Integer Holdings Corporation QuoteCardio & VascularRevenues at the segment totaled $124.6 million, down 16.1% from the prior-year quarter and 18% organically. Per management, this was owing to the impact of the pandemic and customers’ responses throughout nearly all Cardio & Vascular markets.Cardiac & NeuromodulationRevenues at this segment totaled $72.9 million, declining 31.6% on both year-over-year and organic basis. This was due to Nuvectra bankruptcy ($3 million headwind) and decline in CRM and Neuromodulation (corresponding to the impact of the pandemic and a blend of customers’ responses).Non-Medical SalesReported revenues at the segment totaled $8.3 million, down 41.7% on both year-over-year and organic basis.Margin AnalysisInteger Holdings generated a gross profit of $57.9 million in the third quarter, down 37.9% year over year. As a percentage of revenues, gross margin in the reported quarter contracted 620 basis points (bps) to 24.6%.Selling, general and administrative expenses (SG&A) were $3.6 million, down 89% year over year.Research, development and engineering costs were $11.9 million in the quarter, up 1.4% year over year.Total operating income amounted to $39.8 million, which declined 14.5% year over year.Operating margin in the quarter under review was 16.9%, up 160 bps year over year.Q4 GuidanceThe company projects sales to be $20-$35 million higher than that of third quarter. Adjusted operating income margin is expected to be 200-300 bps higher than the third quarter.Summing UpInteger Holdings exited the third quarter on a strong note, wherein both earnings and revenues beat their respective Zacks Consensus Estimates. However, the company witnessed weak performance across its segments in the quarter under review. Also, contraction in gross margin is a dampener.Nonetheless, strong demand across key areas like structural heart is a tailwind. Further, higher demand for ventilator and patient monitoring components fuel optimism. Also, expansion in operating margin is a positive.Zacks RankCurrently, Integer Holdings carries a Zacks Rank #3 (Hold).Earnings of Other MedTech Majors at a GlanceSome better-ranked stocks in the broader medical space that have already announced their quarterly results are Thermo Fisher Scientific Inc. TMO, Align Technology, Inc. ALGN and AngioDynamics, Inc. ANGO. While both Thermo Fisher and AngioDynamics carry aZacks Rank of 2 (Buy), Align Technology sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Thermo Fisher reported third-quarter 2020 adjusted EPS of $5.63, beating the Zacks Consensus Estimate by 28.8%. Revenues of $8.52 billion surpassed the consensus mark by 10%.AngioDynamics reported first-quarter fiscal 2021 adjusted earnings per share (EPS) of 2 cents against the Zacks Consensus Estimate of a loss per share of 6 cents. Revenues of $70.2 million beat the consensus mark by 6.9%.Align Technology reported third-quarter 2020 adjusted EPS of $2.25, which surpassed the Zacks Consensus Estimate by 281.4%. Revenues of $734.1 million outpaced the consensus mark by 38%.Have You Seen Zacks’ 2020 Election Stock Report?The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.Check out Zacks’ 2020 Election Stock Report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngioDynamics, Inc. (ANGO): Free Stock Analysis Report Align Technology, Inc. (ALGN): Free Stock Analysis Report Thermo Fisher Scientific Inc. (TMO): Free Stock Analysis Report Integer Holdings Corporation (ITGR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research