Integer (NYSE:ITGR) Downgraded by Wall Street Zen to “Hold”

Integer (NYSE:ITGRGet Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

ITGR has been the subject of a number of other research reports. Citigroup increased their target price on Integer from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Truist Financial boosted their price target on Integer from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Raymond James Financial reissued an “outperform” rating and issued a $95.00 price objective (down from $143.00) on shares of Integer in a research note on Friday, October 24th. Bank of America lowered Integer from a “buy” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Integer in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Integer currently has an average rating of “Hold” and a consensus price target of $98.38.

Read Our Latest Analysis on Integer

Integer Stock Up 0.8%

Shares of NYSE ITGR opened at $86.22 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The company’s 50-day simple moving average is $76.65 and its 200-day simple moving average is $91.88. The company has a quick ratio of 2.45, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. Integer has a 52-week low of $62.00 and a 52-week high of $146.36.

Integer (NYSE:ITGRGet Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The medical equipment provider reported $1.79 earnings per share for the quarter, beating 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%. During the same period last year, the firm posted $1.43 EPS. Integer’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts predict that Integer will post 6.01 EPS for the current fiscal year.

Integer announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 4th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Tommy P. Thomas sold 884 shares of the business’s 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 transaction, the vice president owned 3,596 shares of the company’s stock, valued at approximately $252,259.40. The trade was a 19.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Payman Khales acquired 3,127 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $64.94 per share, with a total value of $203,067.38. Following the acquisition, the chief executive officer directly owned 22,865 shares of the company’s stock, valued at $1,484,853.10. This trade represents a 15.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 5,843 shares of company stock worth $384,771 in the last quarter. 2.16% of the stock is currently owned by insiders.

Institutional Trading of Integer

A number of hedge funds and other institutional investors have recently made changes to their positions in ITGR. Emerald Advisers LLC lifted its stake in Integer by 1,542.0% during the second quarter. Emerald Advisers LLC now owns 103,824 shares of the medical equipment provider’s stock worth $12,767,000 after purchasing an additional 97,501 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Integer in the 3rd quarter valued at $41,938,000. Wakefield Asset Management LLLP purchased a new stake in shares of Integer in the 2nd quarter valued at $1,118,000. SG Americas Securities LLC lifted its stake in Integer by 127.3% during the 3rd quarter. SG Americas Securities LLC now owns 45,951 shares of the medical equipment provider’s stock worth $4,748,000 after acquiring an additional 25,732 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in Integer by 38.5% during the 2nd quarter. Aberdeen Group plc now owns 319,229 shares of the medical equipment provider’s stock valued at $39,256,000 after acquiring an additional 88,784 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Key Stories Impacting Integer

Here are the key news stories impacting Integer this week:

Integer Company Profile

(Get Free Report)

Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.

Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.

Featured Stories

Analyst Recommendations for Integer (NYSE:ITGR)

Receive News & Ratings for Integer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integer and related companies with MarketBeat.com's FREE daily email newsletter.