Integer (NYSE:ITGR) Reaches New 1-Year High – What’s Next?

Integer Holdings Corporation (NYSE:ITGR)’s stock price hit a new 52-week high during mid-day trading on Friday. The company traded as high as $126.79 and last traded at $126.7140, with a volume of 29,751 shares trading hands. The stock had previously closed at $126.72.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ITGR. Wells Fargo & Company boosted their target price on shares of Integer from $84.00 to $127.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Truist Financial lowered shares of Integer from a “buy” rating to a “hold” rating and increased their price objective for the company from $110.00 to $127.00 in a research report on Monday, August 3rd. Oppenheimer lowered Integer from an “outperform” rating to a “market perform” rating in a research report on Monday, August 3rd. Citigroup lifted their price target on shares of Integer from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Integer in a research note on Monday, September 14th. One analyst has rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $109.86.

Integer Trading Down 0.0%

The firm has a market capitalization of $4.31 billion, a PE ratio of 34.62, a P/E/G ratio of 2.41 and a beta of 0.58. The company’s fifty day simple moving average is $125.93 and its 200-day simple moving average is $104.28. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.73 and a quick ratio of 2.41.

Integer (NYSE:ITGR) last posted its quarterly earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.22. Integer had a return on equity of 12.79% and a net margin of 6.97%. The business had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. During the same period in the prior year, the business earned $1.55 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Integer Holdings Corporation will post 6.09 earnings per share for the current fiscal year.

Insider Transactions at Integer

In related news, insider Andrew Senn sold 9,408 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $126.30, for a total value of $1,188,230.40. Following the completion of the transaction, the insider directly owned 5,405 shares of the company’s stock, valued at $682,651.50. This represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kirk Thor sold 11,767 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $126.23, for a total transaction of $1,485,348.41. Following the transaction, the insider directly owned 7,153 shares in the company, valued at $902,923.19. The trade was a 62.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,948 shares of company stock valued at $5,169,920 over the last ninety days. 1.10% of the stock is owned by company insiders.

Institutional Trading of Integer

Several large investors have recently added to or reduced their stakes in ITGR. Dimensional Fund Advisors LP raised its position in shares of Integer by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider’s stock valued at $130,620,000 after purchasing an additional 90,277 shares in the last quarter. Irenic Capital Management LP acquired a new stake in shares of Integer in the fourth quarter worth $99,109,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Integer by 1,141.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider’s stock worth $72,076,000 after acquiring an additional 753,081 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Integer in the second quarter worth $50,925,000. Finally, William Blair Investment Management LLC acquired a new position in Integer in the 2nd quarter valued at $35,390,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Integer

Integer Holdings Corporation (NYSE: ITGR) is a medical device contract development and manufacturing company. The company designs, develops and manufactures components and finished products for medical device manufacturers, helping customers bring products from concept and development through commercial production.

Integer’s products and technologies support a range of medical applications, including cardiac and vascular devices, neuromodulation systems, orthopedics, and other specialty medical products.