Citigroup Upgrades Integer (NYSE:ITGR) to “Strong-Buy”

Integer (NYSE:ITGR) was upgraded by research analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $140.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $133.00. Citigroup’s target price points to a potential upside of 18.22% from the company’s previous close.

ITGR has been the subject of several other reports. Benchmark decreased their price objective on shares of Integer from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded Integer from a “sell” rating to a “hold” rating in a research report on Monday, May 19th. Raymond James increased their price target on Integer from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Truist Financial set a $150.00 price objective on Integer and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, KeyCorp cut their price objective on Integer from $154.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.00.

Integer Stock Performance

Shares of NYSE ITGR opened at $118.43 on Thursday. Integer has a 12-month low of $104.93 and a 12-month high of $146.36. The company has a market cap of $4.13 billion, a PE ratio of 35.25, a P/E/G ratio of 1.72 and a beta of 1.03. The stock has a 50 day simple moving average of $118.40 and a 200-day simple moving average of $129.22. The company has a current ratio of 2.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.62.

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

Insider Buying and Selling

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

Institutional Trading of Integer

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC grew its stake in Integer by 92.8% during the 1st quarter. Intech Investment Management LLC now owns 22,682 shares of the medical equipment provider’s stock valued at $2,677,000 after acquiring an additional 10,915 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Integer by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,316 shares of the medical equipment provider’s stock worth $12,900,000 after purchasing an additional 4,873 shares in the last quarter. Axiom Investors LLC DE acquired a new stake in shares of Integer during the first quarter worth approximately $4,457,000. United Services Automobile Association purchased a new position in Integer during the first quarter valued at approximately $258,000. Finally, Jones Financial Companies Lllp grew its position in Integer by 79,888.9% during the first quarter. Jones Financial Companies Lllp now owns 7,199 shares of the medical equipment provider’s stock valued at $850,000 after purchasing an additional 7,190 shares in the last quarter. Hedge funds and other institutional investors 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.