Integer Holdings Co. (NYSE:ITGR) Sees Significant Growth in Short Interest

Integer Holdings Co. (NYSE:ITGR) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 2,570,000 shares, an increase of 5.8% from the March 31st total of 2,430,000 shares. Approximately 7.8% of the shares of the stock are sold short. Based on an average daily volume of 342,100 shares, the days-to-cover ratio is presently 7.5 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITGR. KeyCorp boosted their price target on shares of Integer from $123.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. CL King started coverage on shares of Integer in a report on Thursday, March 14th. They issued a “buy” rating and a $137.00 target price on the stock. Bank of America raised shares of Integer from a “neutral” rating to a “buy” rating and increased their price target for the company from $105.00 to $135.00 in a report on Monday, April 15th. Finally, Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of Integer in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Integer by 483.3% during the fourth quarter. Blue Trust Inc. now owns 455 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 377 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Integer during the 4th quarter valued at $67,000. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Integer by 66.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,461 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 584 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Integer by 22.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,733 shares of the medical equipment provider’s stock worth $136,000 after purchasing an additional 313 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Integer by 10.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,427 shares of the medical equipment provider’s stock worth $141,000 after buying an additional 132 shares during the last quarter. 99.29% of the stock is owned by institutional investors.

Integer Stock Performance

Integer stock opened at $109.77 on Thursday. Integer has a fifty-two week low of $69.40 and a fifty-two week high of $123.99. The company has a market capitalization of $3.68 billion, a PE ratio of 37.98, a P/E/G ratio of 1.65 and a beta of 1.12. The company has a 50 day moving average price of $113.86 and a 200-day moving average price of $100.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.01 and a current ratio of 3.32.

Integer (NYSE:ITGR) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Integer had a return on equity of 11.25% and a net margin of 6.01%. The firm had revenue of $414.80 million for the quarter, compared to analyst estimates of $412.78 million. During the same quarter last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Integer will post 5.27 earnings per share for the current year.

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.