Share Buyback Program Initiated by Integer (NYSE:ITGR) Board of Directors

Integer (NYSE:ITGR) declared that its board has initiated a share repurchase plan on Tuesday, November 4th, RTT News reports. The company plans to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to repurchase up to 8.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Integer Trading Down 2.1%

Shares of Integer stock opened at $66.73 on Friday. The company has a current ratio of 3.71, a quick ratio of 2.45 and a debt-to-equity ratio of 0.70. Integer has a twelve month low of $62.00 and a twelve month high of $146.36. The firm has a market capitalization of $2.34 billion, a PE ratio of 27.92, a P/E/G ratio of 0.60 and a beta of 0.95. The firm’s 50-day moving average price is $96.26 and its 200 day moving average price is $109.38.

Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, October 23rd. The medical equipment provider reported $1.79 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $1.43 earnings per share. The company’s quarterly 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. On average, sell-side analysts predict that Integer will post 6.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Integer in a report on Friday, October 24th. Citigroup dropped their target price on Integer from $77.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday. Wall Street Zen cut Integer from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Truist Financial lowered their price objective on Integer from $121.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Integer in a research note on Friday, October 31st. Four equities 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, the stock currently has an average rating of “Hold” and a consensus target price of $96.75.

Insider Buying and Selling at Integer

In other Integer news, CEO Payman Khales purchased 3,127 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were 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 of the company’s stock, valued at $1,484,853.10. The trade was a 15.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.16% 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.