Integer (NYSE:ITGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Integer (NYSE:ITGR) from a hold rating to a buy rating in a research note released on Saturday.

A number of other analysts have also commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $80.00 price objective (down from $132.00) on shares of Integer in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Integer in a report on Friday, October 31st. Raymond James Financial restated an “outperform” rating and issued a $95.00 price target (down previously from $143.00) on shares of Integer in a research report on Friday, October 24th. Piper Sandler lowered their price objective on shares of Integer from $155.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Finally, Benchmark restated a “hold” rating on shares of Integer in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.50.

Integer Stock Performance

ITGR opened at $71.36 on Friday. 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 firm has a market cap of $2.50 billion, a PE ratio of 29.86, a P/E/G ratio of 0.60 and a beta of 0.95. The business has a fifty day simple moving average of $87.56 and a 200-day simple moving average of $104.76. Integer has a fifty-two week low of $62.00 and a fifty-two week high of $146.36.

Integer (NYSE:ITGR) last announced its earnings results on Thursday, October 23rd. The medical equipment provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.11. Integer had a return on equity of 12.84% and a net margin of 4.75%.During the same quarter last year, the firm earned $1.43 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. As a group, equities analysts predict that Integer will post 6.01 EPS for the current fiscal year.

Integer declared that its board has authorized a share buyback program on Tuesday, November 4th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Integer

In other news, EVP Diron Smith acquired 1,116 shares of Integer stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $67.19 per share, with a total value of $74,984.04. Following the completion of the transaction, the executive vice president owned 7,698 shares in the company, valued at approximately $517,228.62. This trade represents a 16.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Payman Khales bought 3,127 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average cost of $64.94 per share, for a total transaction of $203,067.38. Following the completion of the transaction, the chief executive officer owned 22,865 shares in the company, valued at approximately $1,484,853.10. The trade was a 15.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 5,843 shares of company stock valued at $384,771 in the last three months. 2.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Integer

A number of hedge funds have recently added to or reduced their stakes in ITGR. Alliancebernstein L.P. lifted its stake in Integer by 885.1% in the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider’s stock valued at $136,016,000 after acquiring an additional 993,810 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Integer in the 3rd quarter valued at $41,938,000. Bamco Inc. NY lifted its stake in shares of Integer by 81.4% in the 3rd quarter. Bamco Inc. NY now owns 766,055 shares of the medical equipment provider’s stock valued at $79,156,000 after purchasing an additional 343,797 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Integer in the third quarter worth $28,459,000. Finally, Tributary Capital Management LLC increased its position in Integer by 92.6% during the third quarter. Tributary Capital Management LLC now owns 499,776 shares of the medical equipment provider’s stock worth $51,642,000 after buying an additional 240,226 shares during the last quarter. 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.