Integer (NYSE:ITGR) Upgraded to Strong-Buy at Citigroup

Citigroup upgraded shares of Integer (NYSE:ITGR) from a hold rating to a strong-buy rating in a research note released on Thursday morning, MarketBeat reports. The brokerage currently has $140.00 target price on the medical equipment provider’s stock, up from their previous target price of $133.00.

ITGR has been the topic of several other reports. Raymond James boosted their price objective on shares of Integer from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen upgraded Integer from a “sell” rating to a “hold” rating in a report on Monday, May 19th. KeyCorp dropped their price objective on Integer from $154.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Oppenheimer cut Integer from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Finally, Truist Financial set a $150.00 target price on Integer and gave the stock a “buy” rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Integer has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Integer Stock Up 0.2%

Shares of ITGR stock opened at $118.43 on Thursday. The company has a current ratio of 2.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $118.40 and its two-hundred day moving average price is $129.17. The firm has a market capitalization of $4.13 billion, a P/E ratio of 35.25, a PEG ratio of 1.72 and a beta of 1.03. Integer has a 1 year low of $104.93 and a 1 year high of $146.36.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Integer had a net margin of 6.92% and a return on equity of 11.65%. The business had revenue of $437.39 million for the quarter, compared to the consensus estimate of $428.51 million. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Integer will post 6.01 EPS for the current fiscal year.

Insider Activity at Integer

In related news, CEO Joseph W. Dziedzic sold 338,975 shares of Integer stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $123.17, for a total transaction of $41,751,550.75. Following the completion of the sale, the chief executive officer now directly owns 47,000 shares of the company’s stock, valued at approximately $5,788,990. This trade represents a 87.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of Integer by 16.0% during the fourth quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider’s stock worth $186,960,000 after buying an additional 194,895 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Integer by 3.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 558,715 shares of the medical equipment provider’s stock valued at $74,041,000 after acquiring an additional 20,688 shares in the last quarter. Congress Asset Management Co. increased its position in Integer by 4.9% during the first quarter. Congress Asset Management Co. now owns 522,656 shares of the medical equipment provider’s stock worth $61,679,000 after acquiring an additional 24,306 shares during the period. Driehaus Capital Management LLC increased its position in Integer by 5.5% during the fourth quarter. Driehaus Capital Management LLC now owns 451,464 shares of the medical equipment provider’s stock worth $59,828,000 after acquiring an additional 23,706 shares during the period. Finally, Northern Trust Corp raised its stake in Integer by 14.2% in the 4th quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider’s stock worth $55,974,000 after purchasing an additional 52,556 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

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.