Integer (NYSE:ITGR) Sees Large Volume Increase – Time to Buy?

Integer Holdings Corporation (NYSE:ITGR) shares saw unusually-high trading volume on Monday. 894,353 shares changed hands during mid-day trading, an increase of 16% from the previous session’s volume of 769,018 shares. The stock last traded at $126.2950 and had previously closed at $126.34.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Raymond James Financial lowered shares of Integer from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Integer in a research note on Monday, September 14th. Freedom Capital lowered shares of Integer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Piper Sandler lowered Integer from an “overweight” rating to a “hold” rating and set a $127.00 target price on the stock. in a report on Monday, August 3rd. Finally, Citigroup increased their price objective on shares of Integer from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. 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 currently has a consensus rating of “Hold” and an average target price of $109.86.

Integer Trading Down 0.0%

The company’s fifty day simple moving average is $120.62 and its 200-day simple moving average is $100.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.41 and a current ratio of 3.73. The company has a market capitalization of $4.29 billion, a P/E ratio of 34.51, a PEG ratio of 2.40 and a beta of 0.62.

Integer (NYSE:ITGR) last released its quarterly earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $1.55 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts predict that Integer Holdings Corporation will post 6.09 earnings per share for the current year.

Insider Buying and Selling

In other Integer news, insider Andrew Senn sold 9,408 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total value of $1,188,230.40. Following the completion of the sale, the insider owned 5,405 shares in the company, valued at approximately $682,651.50. This trade represents a 63.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kirk K. Thor sold 19,773 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $126.25, for a total value of $2,496,341.25. Following the completion of the transaction, the insider owned 18,920 shares of the company’s stock, valued at $2,388,650. The trade was a 51.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,948 shares of company stock valued at $5,169,920 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Integer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITGR. Heartland Advisors Inc. lifted its holdings in Integer by 506.8% in the fourth quarter. Heartland Advisors Inc. now owns 242,715 shares of the medical equipment provider’s stock valued at $19,036,000 after acquiring an additional 202,715 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Integer in the fourth quarter valued at approximately $4,836,000. Assenagon Asset Management S.A. acquired a new stake in shares of Integer during the second quarter worth about $746,000. HBK Investments L P acquired a new stake in shares of Integer in the second quarter valued at approximately $14,502,000. Finally, Principal Financial Group Inc. boosted its stake in Integer by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 221,000 shares of the medical equipment provider’s stock worth $19,448,000 after purchasing an additional 15,235 shares during the period. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

About Integer

Integer Holdings Corporation, doing business as Integer, is a medical device contract development and manufacturing company. The company partners with medical technology companies to design, develop and manufacture components and finished products used in a range of healthcare applications.

Integer’s medical products include batteries and power sources, implantable components, electrodes, leads, catheters and other products used in cardiovascular, neuromodulation, vascular, orthopedic, diabetes and minimally invasive medical devices.