Piper Sandler Reiterates “Overweight” Rating for Integer (NYSE:ITGR)

Integer (NYSE:ITGR)‘s stock had its “overweight” rating reiterated by research analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $140.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $125.00. Piper Sandler’s price objective indicates a potential upside of 8.59% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Truist Financial lowered their target price on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research note on Friday. Benchmark raised their target price on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. KeyCorp boosted their price target on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Citigroup raised their price target on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer began coverage on shares of Integer in a report on Tuesday, July 16th. They issued an “outperform” rating and a $135.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.75.

Integer Stock Up 1.7 %

ITGR stock traded up $2.16 during trading on Friday, reaching $128.92. The stock had a trading volume of 39,580 shares, compared to its average volume of 311,668. Integer has a one year low of $73.40 and a one year high of $133.53. The company’s 50 day moving average is $127.37 and its two-hundred day moving average is $120.86. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 44.61, a P/E/G ratio of 1.86 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.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Integer had a net margin of 6.31% and a return on equity of 11.48%. The business had revenue of $431.42 million for the quarter, compared to analysts’ expectations of $440.59 million. During the same quarter in the previous year, the firm posted $1.27 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Integer will post 5.3 EPS for the current year.

Insider Buying and Selling

In other news, Director Jean M. Hobby sold 11,960 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total value of $1,431,133.60. Following the transaction, the director now directly owns 2,280 shares of the company’s stock, valued at approximately $272,824.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Guidance Capital Inc. acquired a new stake in Integer in the first quarter valued at approximately $500,000. Congress Wealth Management LLC DE boosted its holdings in Integer by 7.6% in the 1st quarter. Congress Wealth Management LLC DE now owns 69,328 shares of the medical equipment provider’s stock valued at $8,089,000 after purchasing an additional 4,873 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in Integer during the first quarter worth $359,000. Tributary Capital Management LLC grew its stake in shares of Integer by 1.2% during the 1st quarter. Tributary Capital Management LLC now owns 285,677 shares of the medical equipment provider’s stock worth $33,333,000 after purchasing an additional 3,513 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its holdings in Integer by 7.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 7,772 shares of the medical equipment provider’s stock valued at $907,000 after buying an additional 566 shares in the last quarter. Hedge funds and other institutional investors 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.