Integer (NYSE:ITGR) Receives Overweight Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Integer (NYSE:ITGR) in a report released on Friday, Benzinga reports. They currently have a $140.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $125.00.

Several other equities analysts have also recently weighed in on ITGR. KeyCorp lifted their price objective on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Citigroup upped their price target on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Benchmark raised their price objective on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Bank of America upped their target price on shares of Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer began coverage on Integer in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.75.

Integer Trading Down 0.8 %

ITGR traded down $0.99 during midday trading on Friday, reaching $125.77. 187,373 shares of the company were exchanged, compared to its average volume of 312,382. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.96 and a current ratio of 3.29. The stock has a market capitalization of $4.21 billion, a P/E ratio of 43.54, a PEG ratio of 1.86 and a beta of 1.08. The stock’s 50-day simple moving average is $127.58 and its 200 day simple moving average is $120.98. Integer has a one year low of $73.40 and a one year high of $133.53.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. Integer had a net margin of 6.31% and a return on equity of 11.48%. The firm had revenue of $431.42 million during the quarter, compared to the consensus estimate of $440.59 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Integer will post 5.3 earnings per share for the current fiscal year.

Insider Activity at Integer

In other Integer news, Director Jean M. Hobby sold 11,960 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the transaction, the director now owns 2,280 shares of the company’s stock, valued at $272,824.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Guidance Capital Inc. bought a new position in Integer during the first quarter worth about $500,000. Congress Wealth Management LLC DE increased its holdings in shares of Integer by 7.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 69,328 shares of the medical equipment provider’s stock worth $8,089,000 after acquiring an additional 4,873 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in Integer in the 1st quarter valued at $359,000. Tributary Capital Management LLC lifted its holdings in Integer by 1.2% during the 1st quarter. Tributary Capital Management LLC now owns 285,677 shares of the medical equipment provider’s stock valued at $33,333,000 after purchasing an additional 3,513 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its position in Integer by 7.9% during the first quarter. Azzad Asset Management Inc. ADV now owns 7,772 shares of the medical equipment provider’s stock worth $907,000 after purchasing an additional 566 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

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.