Integer (NYSE:ITGR) Hits New 12-Month High – Here’s Why

Integer Holdings Co. (NYSE:ITGR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $135.19 and last traded at $133.59, with a volume of 3024 shares trading hands. The stock had previously closed at $128.68.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America upped their price target on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Oppenheimer initiated coverage on shares of Integer in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target (up from $125.00) on shares of Integer in a research note on Friday, October 25th. Citigroup increased their price objective on shares of Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Truist Financial cut their price objective on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.75.

Integer Stock Performance

The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The stock’s 50 day moving average is $128.02 and its 200 day moving average is $121.53. The company has a current ratio of 3.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67.

Integer (NYSE:ITGR) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Integer had a return on equity of 11.63% and a net margin of 6.70%. The company had revenue of $431.42 million during the quarter, compared to the consensus estimate of $440.59 million. During the same quarter last year, the firm earned $1.27 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Integer Holdings Co. will post 5.33 earnings per share for the current year.

Institutional Trading of Integer

Several large investors have recently modified their holdings of ITGR. GSA Capital Partners LLP bought a new stake in shares of Integer during the 1st quarter worth $786,000. Blue Trust Inc. boosted its stake in shares of Integer by 460.4% in the 2nd quarter. Blue Trust Inc. now owns 5,643 shares of the medical equipment provider’s stock valued at $658,000 after purchasing an additional 4,636 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Integer during the 1st quarter valued at approximately $976,000. Earnest Partners LLC increased its position in Integer by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock worth $139,911,000 after purchasing an additional 37,340 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Integer by 56.7% in the 2nd quarter. Great Lakes Advisors LLC now owns 45,218 shares of the medical equipment provider’s stock valued at $5,236,000 after purchasing an additional 16,355 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Integer Company Profile

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.