Integer Holdings Co. (NYSE:ITGR) Sees Large Growth in Short Interest

Integer Holdings Co. (NYSE:ITGR) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,230,000 shares, a growth of 5.7% from the November 30th total of 2,110,000 shares. Based on an average trading volume of 242,000 shares, the short-interest ratio is currently 9.2 days. Approximately 6.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Integer

Several hedge funds have recently made changes to their positions in the business. Loomis Sayles & Co. L P lifted its position in Integer by 3.0% during the third quarter. Loomis Sayles & Co. L P now owns 538,027 shares of the medical equipment provider’s stock worth $69,943,000 after buying an additional 15,446 shares during the period. Jane Street Group LLC boosted its position in shares of Integer by 23.3% in the third quarter. Jane Street Group LLC now owns 151,397 shares of the medical equipment provider’s stock worth $19,682,000 after acquiring an additional 28,572 shares during the last quarter. Earnest Partners LLC grew its holdings in Integer by 3.2% in the second quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock valued at $139,911,000 after purchasing an additional 37,340 shares during the period. Verition Fund Management LLC increased its position in Integer by 17.4% during the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical equipment provider’s stock worth $451,000 after purchasing an additional 515 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its stake in Integer by 56.7% during the second quarter. Great Lakes Advisors LLC now owns 45,218 shares of the medical equipment provider’s stock worth $5,236,000 after purchasing an additional 16,355 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Analysts Set New Price Targets

ITGR has been the subject of several recent analyst reports. KeyCorp raised their price objective on shares of Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Bank of America boosted their price target on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Integer in a research note on Tuesday, December 3rd. Truist Financial boosted their target price on Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Benchmark raised their price target on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.44.

Integer Trading Down 0.8 %

Integer stock opened at $132.52 on Thursday. The stock has a market cap of $4.44 billion, a PE ratio of 40.90, a P/E/G ratio of 2.02 and a beta of 1.12. The company has a current ratio of 3.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $135.07 and a 200 day moving average price of $127.08. Integer has a 52 week low of $94.56 and a 52 week high of $142.76.

Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Integer had a net margin of 6.70% and a return on equity of 11.63%. The business had revenue of $431.42 million during the quarter, compared to analyst estimates of $440.59 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Integer will post 5.33 earnings per share for the current fiscal year.

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.