Integer (NYSE:ITGR) Price Target Raised to $145.00

Integer (NYSE:ITGR) had its price objective increased by Citigroup from $130.00 to $145.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s price objective would suggest a potential upside of 2.67% from the company’s previous close.

A number of other brokerages have also issued reports on ITGR. Bank of America raised their price target on Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Benchmark raised their price target on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial raised their price target on Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp raised their price target on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $160.00 price target on shares of Integer in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Integer currently has a consensus rating of “Moderate Buy” and an average target price of $145.44.

Integer Price Performance

Shares of NYSE:ITGR traded up $1.59 during trading on Wednesday, hitting $141.23. 67,520 shares of the company’s stock were exchanged, compared to its average volume of 303,784. The business’s 50-day simple moving average is $132.80 and its 200 day simple moving average is $125.29. Integer has a 52-week low of $92.54 and a 52-week high of $142.76. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.28 and a quick ratio of 2.09.

Integer (NYSE:ITGR) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 EPS 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 in the prior year, the company earned $1.27 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Integer will post 5.33 EPS for the current year.

Hedge Funds Weigh In On Integer

Institutional investors and hedge funds have recently modified their holdings of the stock. Driehaus Capital Management LLC increased its stake in shares of Integer by 62.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 353,052 shares of the medical equipment provider’s stock valued at $40,880,000 after purchasing an additional 135,750 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Integer during the 3rd quarter worth approximately $14,403,000. F M Investments LLC purchased a new stake in Integer during the 2nd quarter worth approximately $11,143,000. Point72 Europe London LLP purchased a new stake in Integer during the 2nd quarter worth approximately $6,241,000. Finally, Bamco Inc. NY increased its stake in Integer by 17.4% during the 3rd quarter. Bamco Inc. NY now owns 254,377 shares of the medical equipment provider’s stock worth $33,069,000 after buying an additional 37,700 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

About Integer

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.