Integer (NYSE:ITGR) Reaches New 12-Month High – Here’s Why

Integer Holdings Co. (NYSE:ITGR)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $142.00 and last traded at $142.00, with a volume of 367 shares. The stock had previously closed at $138.11.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ITGR shares. KeyCorp raised their target price on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial dropped their target price on shares of Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Citigroup raised 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. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up from $125.00) on shares of Integer in a research report on Friday, October 25th. Finally, Bank of America boosted their target price on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.75.

Integer Price Performance

The company’s 50 day simple moving average is $130.72 and its 200 day simple moving average is $123.93. The stock has a market cap of $4.65 billion, a P/E ratio of 42.83, a P/E/G ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.28 and a quick ratio of 2.09.

Integer (NYSE:ITGR) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. The firm had revenue of $431.42 million for the quarter, compared to analyst estimates of $440.59 million. Integer had a return on equity of 11.63% and a net margin of 6.70%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, equities analysts forecast that Integer Holdings Co. will post 5.34 earnings per share for the current year.

Hedge Funds Weigh In On Integer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Integer by 460.4% in the second quarter. Blue Trust Inc. now owns 5,643 shares of the medical equipment provider’s stock valued at $658,000 after purchasing an additional 4,636 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Integer by 3.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 538,027 shares of the medical equipment provider’s stock worth $69,943,000 after acquiring an additional 15,446 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Integer by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock worth $139,911,000 after acquiring an additional 37,340 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Integer by 56.7% in the second quarter. Great Lakes Advisors LLC now owns 45,218 shares of the medical equipment provider’s stock valued at $5,236,000 after purchasing an additional 16,355 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Integer in the third quarter worth $651,000. 99.29% of the stock is 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.