Integer (NYSE:ITGR) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Integer (NYSE:ITGR) in a report released on Friday, Benzinga reports. Benchmark currently has a $130.00 price target on the medical equipment provider’s stock.

ITGR has been the subject of a number of other research reports. Bank of America raised Integer from a neutral rating to a buy rating and raised their target price for the company from $105.00 to $135.00 in a report on Monday, April 15th. KeyCorp raised their target price on shares of Integer from $123.00 to $139.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Citigroup increased their target price on Integer from $118.00 to $124.00 and gave the company a neutral rating in a report on Wednesday, May 22nd. Truist Financial assumed coverage on shares of Integer in a research report on Wednesday, May 15th. They set a buy rating and a $137.00 target price on the stock. Finally, Oppenheimer assumed coverage on Integer in a research report on Tuesday, July 16th. They set an outperform rating and a $135.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Integer presently has an average rating of Moderate Buy and a consensus target price of $133.86.

Integer Stock Performance

Shares of NYSE ITGR traded up $3.04 during midday trading on Friday, reaching $113.29. 128,623 shares of the company were exchanged, compared to its average volume of 333,059. The stock has a market cap of $3.80 billion, a P/E ratio of 38.57, a PEG ratio of 1.70 and a beta of 1.11. Integer has a 1 year low of $69.40 and a 1 year high of $130.15. The stock has a fifty day simple moving average of $118.38 and a 200 day simple moving average of $113.92. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.73.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.24 by $0.06. Integer had a return on equity of 11.48% and a net margin of 6.31%. The business had revenue of $436.20 million during the quarter, compared to analysts’ expectations of $437.00 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts forecast that Integer will post 5.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Integer news, Director James F. Hinrichs sold 9,603 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $122.44, for a total value of $1,175,791.32. Following the transaction, the director now owns 7,424 shares in the company, valued at approximately $908,994.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James F. Hinrichs sold 9,603 shares of Integer stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $122.44, for a total value of $1,175,791.32. Following the completion of the transaction, the director now owns 7,424 shares in the company, valued at approximately $908,994.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the completion of the transaction, the director now directly owns 2,280 shares of the company’s stock, valued at $272,824.80. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $2,790,114 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Great Lakes Advisors LLC grew its stake in shares of Integer by 56.7% in the second quarter. Great Lakes Advisors LLC now owns 45,218 shares of the medical equipment provider’s stock worth $5,236,000 after purchasing an additional 16,355 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Integer by 2.4% in the second quarter. Arizona State Retirement System now owns 9,378 shares of the medical equipment provider’s stock valued at $1,086,000 after acquiring an additional 219 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new stake in Integer during the second quarter worth approximately $222,000. Versor Investments LP bought a new position in Integer during the 2nd quarter valued at $266,000. Finally, Guidance Capital Inc. raised its stake in shares of Integer by 7.4% in the 2nd quarter. Guidance Capital Inc. now owns 4,527 shares of the medical equipment provider’s stock worth $538,000 after buying an additional 310 shares in the last quarter. 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.