Integer (NYSE:ITGR) Raised to "Strong-Buy" at Citigroup

Citigroup upgraded shares of Integer (NYSE:ITGR - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage currently has $140.00 target price on the medical equipment provider's stock, up from their prior target price of $133.00.

ITGR has been the topic of several other reports. Oppenheimer downgraded shares of Integer from an "outperform" rating to a "market perform" rating in a research report on Friday, February 21st. KeyCorp cut their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Benchmark cut their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Raymond James increased their price objective on shares of Integer from $145.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Truist Financial set a $150.00 price objective on shares of Integer and gave the company a "buy" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.00.

Integer Stock Up 2.8%

Shares of NYSE:ITGR traded up $3.31 during midday trading on Thursday, reaching $121.62. The company's stock had a trading volume of 74,336 shares, compared to its average volume of 371,747. The firm has a 50 day moving average of $118.35 and a 200-day moving average of $129.00. The firm has a market capitalization of $4.24 billion, a P/E ratio of 36.15, a PEG ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 2.09, a current ratio of 2.95 and a debt-to-equity ratio of 0.62. Integer has a 12-month low of $104.93 and a 12-month high of $146.36.

Integer (NYSE:ITGR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.04. The firm had revenue of $437.39 million for the quarter, compared to the consensus estimate of $428.51 million. Integer had a net margin of 6.92% and a return on equity of 11.65%. The company's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, research analysts anticipate that Integer will post 6.01 earnings per share for the current year.

Insider Buying and Selling at Integer

In related news, CEO Joseph W. Dziedzic sold 338,975 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $123.17, for a total value of $41,751,550.75. Following the transaction, the chief executive officer now owns 47,000 shares of the company's stock, valued at approximately $5,788,990. This trade represents a 87.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.16% of the company's stock.

Hedge Funds Weigh In On Integer

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC lifted its holdings in Integer by 26.0% during the fourth quarter. Park Avenue Securities LLC now owns 4,710 shares of the medical equipment provider's stock valued at $624,000 after purchasing an additional 972 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Integer by 2.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,865 shares of the medical equipment provider's stock valued at $1,307,000 after purchasing an additional 197 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Integer by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,800 shares of the medical equipment provider's stock valued at $769,000 after purchasing an additional 145 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in Integer by 0.8% during the fourth quarter. Tributary Capital Management LLC now owns 287,525 shares of the medical equipment provider's stock valued at $38,103,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Integer by 4.4% during the fourth quarter. Blue Trust Inc. now owns 1,689 shares of the medical equipment provider's stock valued at $220,000 after purchasing an additional 71 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.