Integer (NYSE:ITGR) Shares Gap Down on Analyst Downgrade

Integer Holdings Corporation (NYSE:ITGR) gapped down prior to trading on Friday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $73.89, but opened at $71.57. Integer shares last traded at $71.21, with a volume of 562,270 shares changing hands.

A number of other research firms have also recently commented on ITGR. Truist Financial dropped their target price on Integer from $121.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America cut Integer from a “buy” rating to a “neutral” rating and set a $87.00 target price on the stock. in a research report on Friday. Raymond James Financial restated an “outperform” rating and set a $95.00 target price (down from $143.00) on shares of Integer in a research report on Friday. KeyCorp decreased their price target on shares of Integer from $145.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Integer in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Integer presently has a consensus rating of “Hold” and a consensus target price of $97.75.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC lifted its stake in Integer by 92.8% in the 1st quarter. Intech Investment Management LLC now owns 22,682 shares of the medical equipment provider’s stock worth $2,677,000 after purchasing an additional 10,915 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Integer in the 1st quarter worth approximately $916,000. Russell Investments Group Ltd. lifted its stake in Integer by 14.7% in the 1st quarter. Russell Investments Group Ltd. now owns 6,749 shares of the medical equipment provider’s stock worth $796,000 after purchasing an additional 863 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in Integer by 6.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,000 shares of the medical equipment provider’s stock worth $861,000 after purchasing an additional 400 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in Integer by 38.5% in the 2nd quarter. Aberdeen Group plc now owns 319,229 shares of the medical equipment provider’s stock worth $39,256,000 after purchasing an additional 88,784 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.18 and a current ratio of 3.71. The stock’s 50 day simple moving average is $103.61 and its two-hundred day simple moving average is $112.44. The firm has a market capitalization of $2.56 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 0.58 and a beta of 0.97.

Integer (NYSE:ITGR) last released its earnings results on Thursday, October 23rd. The medical equipment provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.11. The business had revenue of $467.69 million for the quarter, compared to analyst estimates of $466.45 million. Integer had a net margin of 4.75% and a return on equity of 12.84%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. On average, sell-side analysts forecast that Integer Holdings Corporation will post 6.01 EPS for the current year.

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.