Integer (NYSE:ITGR) Stock Price Up 7.7% on Analyst Upgrade

Integer Holdings Corporation (NYSE:ITGR)’s stock price was up 7.7% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $86.00 to $95.00. Truist Financial currently has a buy rating on the stock. Integer traded as high as $79.61 and last traded at $79.8580. Approximately 211,245 shares traded hands during trading, a decline of 65% from the average daily volume of 603,194 shares. The stock had previously closed at $74.13.

ITGR has been the subject of several other research reports. KeyCorp reduced their price target on shares of Integer from $145.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Integer in a report on Friday, October 31st. Citigroup raised their price target on shares of Integer from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Bank of America cut shares of Integer from a “buy” rating to a “neutral” rating and set a $87.00 target price for the company. in a research report on Friday, October 24th. Finally, Piper Sandler cut their price target on Integer from $155.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.38.

Insider Activity

In other news, VP Tommy P. Thomas sold 884 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.15, for a total value of $62,012.60. Following the sale, the vice president directly owned 3,596 shares of the company’s stock, valued at $252,259.40. This represents a 19.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diron Smith acquired 1,116 shares of Integer stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $67.19 per share, with a total value of $74,984.04. Following the completion of the purchase, the executive vice president owned 7,698 shares of the company’s stock, valued at approximately $517,228.62. This represents a 16.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 5,843 shares of company stock worth $384,771 in the last quarter. Insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Integer

Several large investors have recently modified their holdings of ITGR. CWM LLC increased its stake in Integer by 46.1% in the second quarter. CWM LLC now owns 355 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 112 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Integer by 20.2% during the second quarter. GAMMA Investing LLC now owns 796 shares of the medical equipment provider’s stock valued at $98,000 after buying an additional 134 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in shares of Integer by 1.4% in the second quarter. Orion Porfolio Solutions LLC now owns 9,755 shares of the medical equipment provider’s stock worth $1,200,000 after purchasing an additional 138 shares during the period. Ameritas Investment Partners Inc. raised its position in Integer by 4.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,521 shares of the medical equipment provider’s stock valued at $433,000 after purchasing an additional 148 shares during the period. Finally, Heritage Family Offices LLP grew its holdings in Integer by 4.9% during the 3rd quarter. Heritage Family Offices LLP now owns 3,443 shares of the medical equipment provider’s stock worth $356,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.

Integer Stock Up 7.8%

The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 2.45. The stock has a market capitalization of $2.80 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82. The business’s fifty day moving average price is $76.80 and its two-hundred day moving average price is $99.16.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, October 23rd. The medical equipment provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.11. Integer had a return on equity of 12.84% and a net margin of 4.75%.The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. On average, equities research analysts forecast that Integer Holdings Corporation will post 6.01 EPS for the current fiscal year.

Integer declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 4th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.