Integer (NYSE:ITGR) Given New $132.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Integer from $152.00 to $132.00 while maintaining an "overweight" rating, indicating a potential upside of 23.95% from the current stock price.
• Integer reported quarterly earnings with $1.55 EPS, missing estimates of $1.57, but revenue increased by 11.4% year-over-year to $476 million.
• Insider transactions revealed significant stock sales by two directors, leading to a combined 72% reduction in their holdings.
• The stock has a consensus rating of "Moderate Buy" with a target price of $142.75, reflecting ongoing positive sentiment from multiple analysts despite recent price adjustments.

Integer (NYSE:ITGR - Free Report) had its price target trimmed by Wells Fargo & Company from $152.00 to $132.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the medical equipment provider's stock.

Other equities research analysts have also issued reports about the company. Benchmark dropped their price target on Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. KeyCorp dropped their price target on Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Truist Financial set a $150.00 price target on Integer and gave the company a "buy" rating in a research report on Friday, April 25th. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Raymond James Financial upped their price target on Integer from $145.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $140.25.

Integer Stock Up 1.0%

Shares of ITGR traded up $1.07 during trading on Friday, reaching $108.17. The company's stock had a trading volume of 614,623 shares, compared to its average volume of 474,587. The company has a fifty day moving average of $118.78 and a two-hundred day moving average of $123.65. Integer has a twelve month low of $104.93 and a twelve month high of $146.36. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 47.65, a P/E/G ratio of 0.93 and a beta of 0.98. The company has a quick ratio of 2.14, a current ratio of 3.41 and a debt-to-equity ratio of 0.72.

Integer (NYSE:ITGR - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The business had revenue of $476.00 million during the quarter, compared to analyst estimates of $464.37 million. During the same period in the previous year, the company earned $1.30 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Integer will post 6.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Martin C. Maxwell sold 8,720 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $120.56, for a total value of $1,051,283.20. Following the completion of the transaction, the director owned 22,170 shares of the company's stock, valued at approximately $2,672,815.20. This represents a 28.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donald J. Spence sold 14,739 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total value of $1,774,280.82. Following the completion of the transaction, the director directly owned 18,781 shares of the company's stock, valued at approximately $2,260,856.78. The trade was a 43.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 362,434 shares of company stock worth $44,577,115 in the last three months. 2.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ITGR. AdvisorNet Financial Inc bought a new position in Integer during the first quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in Integer during the first quarter valued at about $28,000. Bessemer Group Inc. boosted its stake in Integer by 73.1% during the first quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 125 shares in the last quarter. SVB Wealth LLC bought a new position in Integer during the first quarter valued at about $35,000. Finally, CWM LLC boosted its stake in Integer by 46.1% during the second quarter. CWM LLC now owns 355 shares of the medical equipment provider's stock valued at $44,000 after buying an additional 112 shares in the last quarter. Institutional investors 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.