Integer (NYSE:ITGR) Shares Up 7.7% Following Analyst Upgrade

Integer Holdings Corporation (NYSE:ITGR) shares shot up 7.7% during 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. 211,245 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 603,194 shares. The stock had previously closed at $74.13.

A number of other research analysts have also issued reports on the stock. Argus lowered shares of Integer from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Wall Street Zen upgraded Integer from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Benchmark reissued a “hold” rating on shares of Integer in a research report on Friday, October 24th. KeyCorp reduced their price objective on Integer from $145.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Integer in a research report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Integer presently has an average rating of “Hold” and a consensus price target of $98.38.

Insider Transactions at Integer

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirabella Financial Services LLP purchased a new stake in shares of Integer during the 3rd quarter worth $274,000. Tudor Investment Corp ET AL lifted its stake in Integer by 50,787.5% during the third quarter. Tudor Investment Corp ET AL now owns 29,500,000 shares of the medical equipment provider’s stock valued at $28,606,000 after buying an additional 29,442,029 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Integer in the third quarter valued at approximately $380,000. CANADA LIFE ASSURANCE Co raised its stake in Integer by 1.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 29,629 shares of the medical equipment provider’s stock valued at $2,996,000 after purchasing an additional 502 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Integer by 668.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 93,935 shares of the medical equipment provider’s stock worth $9,706,000 after purchasing an additional 81,713 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Integer Price Performance

The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82. The company has a quick ratio of 2.45, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average is $76.80 and its two-hundred day moving average 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, topping analysts’ consensus estimates of $1.68 by $0.11. Integer had a net margin of 4.75% and a return on equity of 12.84%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 earnings per share. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. Equities research analysts anticipate that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

Integer announced that its Board of Directors has initiated a share buyback plan on Tuesday, November 4th that permits the company to repurchase $200.00 million in outstanding 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 generally a sign that the company’s board believes its stock is 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.