Integer (NYSE:ITGR) Cut to Neutral at Bank of America

Key Points

• Bank of America has downgraded Integer Holdings Corp. from a "buy" to a "neutral" rating, with a new price target of $87.00, suggesting a potential upside of 22.18% from its previous close.
• Integer's shares fell 3.6% during midday trading on Friday, reaching $71.21, with a twelve-month low of $66.50 and a high of $146.36.
• The company's quarterly earnings report indicated an EPS of $1.79, surpassing analyst estimates, with a revenue increase of 8.4% year-over-year.

Integer (NYSE:ITGR - Get Free Report) was downgraded by Bank of America from a "buy" rating to a "neutral" rating in a report released on Friday. They currently have a $87.00 price target on the medical equipment provider's stock. Bank of America's price target would suggest a potential upside of 22.18% from the stock's previous close.

A number of other brokerages have also weighed in on ITGR. Wells Fargo & Company restated an "equal weight" rating on shares of Integer in a research note on Friday. Benchmark reissued a "hold" rating on shares of Integer in a research report on Friday. Citigroup cut Integer from a "buy" rating to a "neutral" rating in a research note on Thursday. Raymond James Financial decreased their price target on shares of Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Finally, KeyCorp decreased their target price on shares of Integer from $145.00 to $133.00 and set an "overweight" rating for the company in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Integer currently has a consensus rating of "Hold" and an average price target of $112.13.

Integer Stock Down 3.6%

Shares of NYSE:ITGR traded down $2.69 during midday trading on Friday, hitting $71.21. 562,270 shares of the company's stock traded hands, compared to its average volume of 530,672. Integer has a twelve month low of $66.50 and a twelve month high of $146.36. The company has a market cap of $2.49 billion, a PE ratio of 31.67, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.18 and a current ratio of 3.41. The firm's fifty day moving average price is $104.29 and its two-hundred day moving average price is $112.67.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The medical equipment provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.11. Integer had a return on equity of 12.27% and a net margin of 4.61%.The company had revenue of $467.69 million for the quarter, compared to analysts' expectations of $466.45 million. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. On average, equities research analysts anticipate that Integer will post 6.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Integer

Several hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Integer by 1.0% in the 2nd quarter. State Street Corp now owns 1,326,050 shares of the medical equipment provider's stock valued at $163,064,000 after purchasing an additional 13,540 shares in the last quarter. Viking Global Investors LP raised its holdings in Integer by 9.1% during the 2nd quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider's stock worth $157,889,000 after buying an additional 106,692 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Integer by 885.1% during the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider's stock worth $136,016,000 after buying an additional 993,810 shares in the last quarter. Franklin Resources Inc. lifted its position in Integer by 11.5% during the 2nd quarter. Franklin Resources Inc. now owns 907,232 shares of the medical equipment provider's stock worth $111,562,000 after buying an additional 93,294 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Integer by 3.9% in the second quarter. Geode Capital Management LLC now owns 819,089 shares of the medical equipment provider's stock valued at $100,736,000 after buying an additional 31,026 shares in the last quarter. 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.

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