Integer (NYSE:ITGR) Reaches New 1-Year High – Time to Buy?

Integer Holdings Corporation (NYSE:ITGR) shares reached a new 52-week high on Thursday. The company traded as high as $126.83 and last traded at $126.7350, with a volume of 764,082 shares traded. The stock had previously closed at $126.70.

Wall Street Analyst Weigh In

ITGR has been the subject of a number of analyst reports. Benchmark cut shares of Integer from a “buy” rating to a “hold” rating in a research note on Thursday, August 13th. Truist Financial cut shares of Integer from a “buy” rating to a “hold” rating and lifted their target price for the company from $110.00 to $127.00 in a research note on Monday, August 3rd. HC Wainwright reaffirmed a “buy” rating on shares of Integer in a report on Friday, July 24th. Wells Fargo & Company increased their price target on Integer from $84.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Integer in a report on Monday, September 14th. One equities research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Integer has an average rating of “Hold” and a consensus price target of $113.67.

Integer Price Performance

The firm has a market capitalization of $4.30 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58. The company has a current ratio of 3.73, a quick ratio of 2.41 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average price of $126.12 and a 200-day moving average price of $105.83.

Integer (NYSE:ITGR) last posted its quarterly earnings data 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 net margin of 6.97% and a return on equity of 12.79%. The company had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. During the same period in the previous year, the firm earned $1.55 earnings per share. Integer’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts expect that Integer Holdings Corporation will post 6.09 earnings per share for the current year.

Insider Activity

In related news, insider Andrew Senn sold 9,408 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the completion of the transaction, the insider owned 5,405 shares in the company, valued at $682,651.50. The trade was a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kirk K. Thor sold 11,767 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $126.23, for a total value of $1,485,348.41. Following the transaction, the insider owned 7,153 shares in the company, valued at approximately $902,923.19. This trade represents a 62.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 40,948 shares of company stock valued at $5,169,920. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Integer

Several hedge funds have recently bought and sold shares of ITGR. Dimensional Fund Advisors LP lifted its position in shares of Integer by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider’s stock valued at $130,620,000 after acquiring an additional 90,277 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Integer by 1,141.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider’s stock valued at $72,076,000 after purchasing an additional 753,081 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Integer during the 2nd quarter worth about $50,925,000. William Blair Investment Management LLC purchased a new stake in Integer in the 2nd quarter valued at about $35,390,000. Finally, Cibc World Market Inc. purchased a new stake in Integer in the 2nd quarter valued at about $30,381,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Integer Company Profile

Integer Holdings Corporation (NYSE: ITGR) is a global medical device and advanced energy technology company. It partners with original equipment manufacturers to design and manufacture components, subassemblies and finished products used in minimally invasive and implantable medical devices.

Its medical technologies include batteries and power systems for pacemakers, implantable cardioverter-defibrillators, neurostimulators and drug-delivery systems, as well as catheter and guidewire components, coated wire, electrodes and other products used in cardiovascular, neuromodulation and other medical applications.

Integer also develops specialty batteries and power solutions for markets such as energy, aerospace and defense.