Integer (NYSE:ITGR) Sets New 52-Week High – Here’s What Happened

Integer Holdings Co. (NYSE:ITGR)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $135.19 and last traded at $133.59, with a volume of 3024 shares changing hands. The stock had previously closed at $128.68.

Wall Street Analysts Forecast Growth

ITGR has been the subject of several analyst reports. Citigroup lifted 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 target on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 21st. Truist Financial reduced their price objective on Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Oppenheimer initiated coverage on shares of Integer in a research report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price target on the stock. Finally, 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 report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.75.

Integer Trading Up 5.2 %

The business’s 50-day simple moving average is $128.02 and its 200-day simple moving average is $121.53. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.09 and a current ratio of 3.28. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 1.82 and a beta of 1.09.

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

Institutional Investors Weigh In On Integer

Hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC grew its position in shares of Integer by 62.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 353,052 shares of the medical equipment provider’s stock valued at $40,880,000 after purchasing an additional 135,750 shares during the period. F M Investments LLC bought a new stake in shares of Integer during the second quarter worth $11,143,000. Point72 Europe London LLP acquired a new stake in shares of Integer during the second quarter worth $6,241,000. Earnest Partners LLC lifted its position in Integer by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock valued at $139,911,000 after acquiring an additional 37,340 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Integer by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,826,088 shares of the medical equipment provider’s stock worth $446,428,000 after purchasing an additional 23,382 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Integer Company Profile

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.