Integer (NYSE:ITGR) Reaches New 52-Week High – Time to Buy?

Integer Holdings Corporation (NYSE:ITGR – Get Free Report)’s share price 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 trading hands. The stock had previously closed at $126.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ITGR shares. Truist Financial lowered shares of Integer from a “buy” rating to a “hold” rating and raised their price target for the stock from $110.00 to $127.00 in a research note on Monday, August 3rd. Oppenheimer downgraded Integer from an “outperform” rating to a “market perform” rating in a research note on Monday, August 3rd. Wells Fargo & Company increased their price objective on Integer from $84.00 to $127.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Integer in a report on Monday, September 14th. Finally, Benchmark downgraded Integer from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.86.

View Our Latest Stock Report on Integer

Integer Stock Performance

The firm has a market capitalization of $4.31 billion, a PE ratio of 19.95, a P/E/G ratio of 2.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.73 and a quick ratio of 2.41. The company’s fifty day simple moving average is $126.06 and its 200 day simple moving average is $105.41.

Integer (NYSE:ITGR – Get Free Report) last issued its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.22. The firm had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. As a group, equities research analysts expect that Integer Holdings Corporation will post 6.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew Senn sold 9,408 shares of the company’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 sale, the insider directly owned 5,405 shares in the company, valued at approximately $682,651.50. This represents a 63.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kirk Thor sold 11,767 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $126.23, for a total transaction of $1,485,348.41. Following the completion of the transaction, the insider directly owned 7,153 shares of the company’s stock, 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. Insiders have sold a total of 40,948 shares of company stock worth $5,169,920 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Integer

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Integer by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider’s stock worth $130,620,000 after acquiring an additional 90,277 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Integer during the 2nd quarter valued at $50,925,000. William Blair Investment Management LLC bought a new stake in shares of Integer during the 2nd quarter valued at $35,390,000. Finally, Cibc World Market Inc. bought a new stake in shares of Integer during the 2nd quarter valued at $30,381,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

About Integer

(Get Free Report)

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.

Further Reading

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