Benchmark Reiterates Buy Rating for Integer (NYSE:ITGR)

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

ITGR has been the subject of a number of other reports. Bank of America lifted their price objective on shares of Integer from $135.00 to $145.00 and gave the stock a buy rating in a report on Tuesday. Truist Financial lifted their price target on Integer from $137.00 to $145.00 and gave the stock a buy rating in a research note on Tuesday. Citigroup raised their price objective on Integer from $124.00 to $130.00 and gave the company a neutral rating in a report on Tuesday. Finally, Oppenheimer began coverage on Integer in a research report on Tuesday, July 16th. They issued an outperform rating and a $135.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $137.29.

Integer Price Performance

Integer stock opened at $129.11 on Wednesday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 44.67, a PEG ratio of 1.87 and a beta of 1.08. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.73. The business has a 50-day simple moving average of $123.88 and a 200 day simple moving average of $119.52. Integer has a 52 week low of $69.40 and a 52 week high of $131.87.

Integer (NYSE:ITGR) last issued its quarterly earnings data 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 company had revenue of $436.20 million during the quarter, compared to analyst estimates of $437.00 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Integer’s revenue was up 9.0% on a year-over-year basis. On average, research analysts forecast that Integer will post 5.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jean M. Hobby sold 11,960 shares of the company’s 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 approximately $272,824.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado boosted its stake in shares of Integer by 3,260.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 285,439 shares of the medical equipment provider’s stock valued at $28,281,000 after purchasing an additional 276,944 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Integer by 62.5% in the second quarter. Driehaus Capital Management LLC now owns 353,052 shares of the medical equipment provider’s stock worth $40,880,000 after buying an additional 135,750 shares in the last quarter. F M Investments LLC purchased a new stake in Integer in the second quarter worth about $11,143,000. Point72 Europe London LLP bought a new stake in Integer during the 2nd quarter valued at approximately $6,241,000. Finally, Congress Asset Management Co. MA grew its holdings in shares of Integer by 12.5% during the 4th quarter. Congress Asset Management Co. MA now owns 421,524 shares of the medical equipment provider’s stock worth $41,765,000 after acquiring an additional 46,776 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

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.