Integer Holdings Corporation (NYSE:ITGR) Stock Has Average Price Target of $113.67 According to Brokerages

Key Points

• Analyst sentiment is cautious: Integer Holdings has a consensus “Hold” rating from 12 analysts, with 11 holds and one buy. The average 12-month price target is $113.67, below the reported share price of $126.59.
• Recent financial results fell short of expectations: Integer reported quarterly EPS of $1.34 versus the $1.68 consensus estimate, while revenue declined 3.8% year over year to $449.66 million.
• Insiders have been selling shares: Company insiders sold 40,948 shares worth approximately $5.17 million over the past 90 days, while institutional investors and hedge funds collectively own 99.29% of the stock.

Integer Holdings Corporation (NYSE:ITGR - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve research firms that are currently covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $113.67.

ITGR has been the subject of several research analyst reports. Benchmark cut shares of Integer from a "buy" rating to a "hold" rating in a report on Thursday, August 13th. Citigroup boosted their price target on Integer from $92.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. KeyCorp lowered shares of Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. Piper Sandler cut Integer from an "overweight" rating to a "hold" rating and set a $127.00 price target for the company. in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Integer from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd.

Insider Activity

In other Integer news, insider Kirk K. Thor sold 19,773 shares of Integer stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $126.25, for a total transaction of $2,496,341.25. Following the completion of the transaction, the insider owned 18,920 shares in the company, valued at approximately $2,388,650. This trade represents a 51.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Senn sold 9,408 shares of Integer stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $126.30, for a total value of $1,188,230.40. Following the transaction, the insider directly owned 5,405 shares in the company, valued at approximately $682,651.50. This trade represents a 63.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 40,948 shares of company stock valued at $5,169,920. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Integer by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider's stock valued at $130,620,000 after buying an additional 90,277 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Integer by 1,141.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider's stock worth $72,076,000 after purchasing an additional 753,081 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Integer in the second quarter valued at approximately $50,925,000. William Blair Investment Management LLC acquired a new position in shares of Integer in the second quarter valued at approximately $35,390,000. Finally, Cibc World Market Inc. purchased a new position in shares of Integer in the 2nd quarter worth about $30,381,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Integer Stock Performance

Shares of ITGR opened at $126.59 on Monday. The firm has a fifty day simple moving average of $126.23 and a two-hundred day simple moving average of $100.82. Integer has a twelve month low of $62.10 and a twelve month high of $126.83. The stock has a market capitalization of $4.30 billion, a P/E ratio of 42.48, a PEG ratio of 2.41 and a beta of 0.58. The company has a quick ratio of 2.60, a current ratio of 3.98 and a debt-to-equity ratio of 0.73.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The medical equipment provider reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($0.34). The business had revenue of $449.66 million for the quarter, compared to analysts' expectations of $456.91 million. Integer had a return on equity of 11.84% and a net margin of 5.68%. Integer's revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 EPS. On average, research analysts anticipate that Integer will post 6.09 EPS for the current year.

About Integer

Integer Holdings Corporation NYSE: ITGR is a global medical device and advanced energy technology company. It partners with original equipment manufacturers to design and manufacture components, subassemblies and finished products used in minimally invasive and implantable medical devices.

Its medical technologies include batteries and power systems for pacemakers, implantable cardioverter-defibrillators, neurostimulators and drug-delivery systems, as well as catheter and guidewire components, coated wire, electrodes and other products used in cardiovascular, neuromodulation and other medical applications.

Integer also develops specialty batteries and power solutions for markets such as energy, aerospace and defense.

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