Integer Holdings Co. (NASDAQ:ITGR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Integer Holdings derives a significant portion of its revenues from Medicare’s service reimbursement programs. The company expects rental revenue per patient to decline in the future quarters owing to lower reimbursement rates in connection with the nationalization of competitive bidding and continued reimbursement declines. Integer Holdings reported a tepid second-quarter of 2017 missing the Zacks Consensus Estimate on both counts. Over the last one year the company outperformed the broader industry in terms of price performance. Integer Holdings has provided a positive guidance for full-year 2017. The company’s steadfast focus on customer relationship, spotlight on cost reduction, and burgeoning financial performance are the key catalysts in our view. However, revenue headwinds remain a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments, and lower net patient additions.”

Shares of Integer Holdings (NASDAQ:ITGR) traded down 0.45% during trading on Monday, hitting $44.40. 68,168 shares of the company were exchanged. Integer Holdings has a 12 month low of $18.10 and a 12 month high of $47.09. The stock has a market cap of $1.40 billion, a P/E ratio of 76.29 and a beta of 1.30. The company’s 50-day moving average price is $44.59 and its 200 day moving average price is $40.06.

Integer Holdings (NASDAQ:ITGR) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.11. The company had revenue of $363 million for the quarter, compared to analysts’ expectations of $353.68 million. During the same quarter last year, the business earned $0.56 earnings per share. Integer Holdings’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Integer Holdings will post $2.76 earnings per share for the current fiscal year.

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In related news, insider Jennifer M. Bolt sold 3,626 shares of Integer Holdings stock in a transaction on Monday, June 5th. The shares were sold at an average price of $41.04, for a total transaction of $148,811.04. Following the sale, the insider now owns 14,834 shares of the company’s stock, valued at approximately $608,787.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

A number of large investors have recently added to or reduced their stakes in ITGR. Comerica Bank increased its stake in Integer Holdings by 4.2% in the first quarter. Comerica Bank now owns 30,982 shares of the medical equipment provider’s stock valued at $1,140,000 after buying an additional 1,249 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Integer Holdings by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 372,845 shares of the medical equipment provider’s stock valued at $14,988,000 after buying an additional 41,810 shares during the last quarter. Algert Global LLC bought a new stake in Integer Holdings during the first quarter valued at $1,956,000. LSV Asset Management increased its stake in Integer Holdings by 698.2% in the first quarter. LSV Asset Management now owns 624,209 shares of the medical equipment provider’s stock valued at $25,093,000 after buying an additional 546,009 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Integer Holdings by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 38,332 shares of the medical equipment provider’s stock valued at $1,538,000 after buying an additional 1,204 shares during the last quarter.

Integer Holdings Company Profile

Greatbatch, Inc is a developer and manufacturer of medical devices and components. The Company operates through two segments: Greatbatch Medical and QiG Group (QiG). Greatbatch Medical designs and manufactures products where the Company either owns the intellectual property or has unique manufacturing and assembly expertise.

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