Integer Holdings Co. (NYSE:ITGR) Sees Large Increase in Short Interest

Integer Holdings Co. (NYSE:ITGR) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,320,000 shares, a growth of 7.9% from the October 31st total of 2,150,000 shares. Based on an average trading volume of 272,100 shares, the days-to-cover ratio is presently 8.5 days. Currently, 7.2% of the shares of the company are sold short.

Integer Price Performance

Integer stock traded up $2.32 during mid-day trading on Tuesday, hitting $141.09. 304,775 shares of the company were exchanged, compared to its average volume of 307,405. The company has a quick ratio of 2.09, a current ratio of 3.28 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $131.87 and a 200 day moving average of $124.78. Integer has a 1-year low of $86.42 and a 1-year high of $142.00. The company has a market capitalization of $4.73 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12.

Integer (NYSE:ITGR) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Integer had a return on equity of 11.63% and a net margin of 6.70%. The company had revenue of $431.42 million during the quarter, compared to analyst estimates of $440.59 million. During the same period last year, the company posted $1.27 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Integer will post 5.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. KeyCorp increased their price objective on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Benchmark increased their price objective on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial reduced their price objective on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Bank of America raised their target price on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Citigroup raised their target price on Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Integer has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Institutional Trading of Integer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITGR. Contravisory Investment Management Inc. boosted its holdings in Integer by 55.9% during the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 80 shares during the last quarter. Huntington National Bank boosted its holdings in Integer by 8,933.3% during the third quarter. Huntington National Bank now owns 271 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 268 shares during the last quarter. Quest Partners LLC boosted its holdings in Integer by 3,688.9% during the second quarter. Quest Partners LLC now owns 341 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 332 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Integer by 60.9% during the second quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 142 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Integer during the second quarter worth about $110,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

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.