Short Interest in Integer Holdings Co. (NYSE:ITGR) Rises By 6.5%

Integer Holdings Co. (NYSE:ITGR) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,770,000 shares, a growth of 6.5% from the July 15th total of 2,600,000 shares. Based on an average daily volume of 323,800 shares, the short-interest ratio is currently 8.6 days.

Wall Street Analysts Forecast Growth

ITGR has been the topic of several research reports. Oppenheimer assumed coverage on shares of Integer in a research note on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective on the stock. Citigroup increased their price target on Integer from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Truist Financial started coverage on Integer in a research report on Wednesday, May 15th. They set a “buy” rating and a $137.00 price objective for the company. Finally, Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Integer in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Integer presently has an average rating of “Moderate Buy” and a consensus price target of $133.86.

Integer Stock Performance

Shares of NYSE ITGR traded up $0.98 during midday trading on Monday, hitting $122.10. 52,737 shares of the company’s stock were exchanged, compared to its average volume of 327,520. Integer has a twelve month low of $69.40 and a twelve month high of $130.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.29 and a quick ratio of 1.96. The firm has a market cap of $4.09 billion, a P/E ratio of 41.79, a PEG ratio of 1.70 and a beta of 1.11. The stock’s 50 day moving average price is $117.60 and its 200-day moving average price is $114.84.

Integer (NYSE:ITGR) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The company had revenue of $436.20 million during the quarter, compared to analyst estimates of $437.00 million. Integer had a return on equity of 11.48% and a net margin of 6.31%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Equities research analysts anticipate that Integer will post 5.31 EPS for the current year.

Insider Transactions at Integer

In related news, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total value of $1,431,133.60. Following the completion of the transaction, the director now directly owns 2,280 shares in the company, valued at $272,824.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jean M. Hobby sold 11,960 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the sale, the director now directly owns 2,280 shares of the company’s stock, valued at approximately $272,824.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Harris sold 1,521 shares of Integer stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $120.44, for a total transaction of $183,189.24. Following the completion of the transaction, the executive vice president now directly owns 4,922 shares of the company’s stock, valued at approximately $592,805.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $2,790,114. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Integer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC lifted its stake in shares of Integer by 3,688.9% in the 2nd quarter. Quest Partners LLC now owns 341 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 332 shares during the period. GAMMA Investing LLC lifted its position in Integer by 60.9% in the second quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 142 shares during the period. Principal Securities Inc. bought a new position in Integer during the 4th quarter valued at $67,000. Headlands Technologies LLC acquired a new position in shares of Integer during the 1st quarter valued at $106,000. Finally, Innealta Capital LLC acquired a new position in shares of Integer during the 2nd quarter valued at $110,000. 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.