Integer (NYSE:ITGR) Sees Strong Trading Volume – What’s Next?

Shares of Integer Holdings Co. (NYSE:ITGR) saw unusually-strong trading volume on Tuesday . Approximately 307,111 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 314,283 shares.The stock last traded at $118.10 and had previously closed at $117.18.

Wall Street Analysts Forecast Growth

ITGR has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Benchmark lifted their price objective on shares of Integer from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Oppenheimer lowered Integer from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $160.00 price target on shares of Integer in a report on Tuesday, December 3rd. Finally, Citigroup increased their price target on shares of Integer from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.00.

Integer Price Performance

The stock’s 50-day moving average price is $132.23 and its 200 day moving average price is $132.29. The company has a quick ratio of 2.09, a current ratio of 2.95 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 1.72 and a beta of 1.24.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, February 20th. The medical equipment provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The business had revenue of $449.50 million during the quarter, compared to analyst estimates of $446.28 million. Integer had a net margin of 6.92% and a return on equity of 11.65%. Equities research analysts expect that Integer Holdings Co. will post 6.01 earnings per share for the current fiscal year.

Institutional Trading of Integer

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Integer in the fourth quarter valued at about $38,073,000. Capital Research Global Investors lifted its holdings in shares of Integer by 16.0% in the 4th quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider’s stock worth $186,960,000 after acquiring an additional 194,895 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Integer in the 4th quarter valued at approximately $22,775,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Integer in the fourth quarter valued at approximately $7,889,000. Finally, Northern Trust Corp lifted its stake in Integer by 14.2% during the fourth quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider’s stock worth $55,974,000 after purchasing an additional 52,556 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

About Integer

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, non-vascular, urology, and gastroenterology procedures.