Citigroup Issues Positive Forecast for Integer (NYSE:ITGR) Stock Price

Integer (NYSE:ITGR) had its price target lifted by equities research analysts at Citigroup from $130.00 to $145.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s target price would suggest a potential upside of 2.67% from the company’s current price.

Several other equities analysts have also commented on ITGR. KeyCorp increased their target price on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $160.00 target price on shares of Integer in a report on Tuesday, December 3rd. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up previously from $125.00) on shares of Integer in a report on Friday, October 25th. Bank of America increased their target price on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Benchmark increased their target price on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Integer currently has an average rating of “Moderate Buy” and a consensus price target of $145.44.

Integer Stock Up 1.1 %

Shares of NYSE ITGR traded up $1.59 during mid-day trading on Wednesday, hitting $141.23. The company had a trading volume of 67,520 shares, compared to its average volume of 303,784. The company has a market capitalization of $4.74 billion, a PE ratio of 43.55, a price-to-earnings-growth 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 has a 1-year low of $92.54 and a 1-year high of $142.76. The business’s 50-day simple moving average is $132.80 and its 200 day simple moving average is $125.29.

Integer (NYSE:ITGR) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $431.42 million for the quarter, compared to analysts’ expectations of $440.59 million. Integer had a return on equity of 11.63% and a net margin of 6.70%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.27 earnings per share. On average, analysts predict that Integer will post 5.33 earnings per share for the current year.

Institutional Investors Weigh In On Integer

Several hedge funds have recently made changes to their positions in ITGR. Driehaus Capital Management LLC boosted its stake in shares of Integer by 62.5% during 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 during the period. Eagle Asset Management Inc. acquired a new stake in Integer in the third quarter valued at about $14,403,000. F M Investments LLC acquired a new stake in Integer in the second quarter valued at about $11,143,000. Point72 Europe London LLP acquired a new stake in Integer in the second quarter valued at about $6,241,000. Finally, Bamco Inc. NY lifted its position in Integer by 17.4% in the third quarter. Bamco Inc. NY now owns 254,377 shares of the medical equipment provider’s stock valued at $33,069,000 after purchasing an additional 37,700 shares during the period. Institutional investors and hedge funds 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.