Wall Street Zen Downgrades Integer (NYSE:ITGR) 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 research note issued on Sunday.

A number of other research analysts have also weighed in on the company. Truist Financial increased their price objective on Integer from $86.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Citigroup upped their target price on Integer from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Bank of America downgraded shares of Integer from a “buy” rating to a “neutral” rating and set a $87.00 price target on the stock. in a report on Friday, October 24th. Benchmark reissued a “hold” rating on shares of Integer in a research report on Friday, October 24th. Finally, Argus cut shares of Integer from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Integer currently has a consensus rating of “Hold” and an average target price of $98.38.

Get Our Latest Analysis on Integer

Integer Trading Up 0.8%

NYSE:ITGR opened at $86.22 on Friday. The company has a market capitalization of $3.02 billion, a P/E ratio of 36.08, a PEG ratio of 0.79 and a beta of 0.78. 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 12 month low of $62.00 and a 12 month high of $146.36. The firm has a fifty day simple moving average of $76.65 and a 200-day simple moving average of $91.88.

Integer (NYSE:ITGRGet Free Report) last released its earnings results on Thursday, October 23rd. The medical equipment provider reported $1.79 earnings per share (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 business posted $1.43 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Integer will post 6.01 earnings per share for the current year.

Integer announced that its board has approved a stock 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 reacquire up to 8.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Payman Khales bought 3,127 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,484,853.10. This trade represents a 15.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Tommy P. Thomas sold 884 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.15, for a total transaction of $62,012.60. Following the sale, the vice president directly owned 3,596 shares in the company, valued at $252,259.40. This trade represents a 19.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired 5,843 shares of company stock worth $384,771 over the last 90 days. Company insiders own 2.16% of the company’s stock.

Institutional Investors Weigh In On Integer

A number of institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of Integer by 193.2% in the 4th quarter. Farther Finance Advisors LLC now owns 519 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 342 shares in the last quarter. Guidance Capital Inc. grew its holdings in Integer by 21.8% in the fourth quarter. Guidance Capital Inc. now owns 5,327 shares of the medical equipment provider’s stock valued at $456,000 after purchasing an additional 955 shares during the period. State of Alaska Department of Revenue grew its holdings in Integer by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 19,837 shares of the medical equipment provider’s stock valued at $1,555,000 after purchasing an additional 249 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Integer by 98.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 806,982 shares of the medical equipment provider’s stock valued at $63,292,000 after buying an additional 401,121 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its stake in shares of Integer by 1.1% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 14,833 shares of the medical equipment provider’s stock worth $1,163,000 after buying an additional 167 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Integer News Roundup

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.

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