Integer (NYSE:ITGR) Hits New 52-Week High - Time to Buy?

Key Points

• Integer shares surged 20.3% to a new 52-week high, reaching $112.01 during trading and last changing hands at $121.2250, well above its prior close of $100.86.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $97.00; Truist recently raised its target to $110 and assigned a “Buy” rating.
• Institutional investors own 99.29% of Integer’s stock, while the company reported quarterly revenue of $439.58 million—above expectations—despite slightly missing earnings estimates.

Integer Holdings Corporation (NYSE:ITGR - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $112.01 and last traded at $121.2250, with a volume of 263588 shares. The stock had previously closed at $100.86.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ITGR shares. Zacks Research upgraded shares of Integer from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. KeyCorp reissued an "overweight" rating and set a $104.00 target price on shares of Integer in a research report on Tuesday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Integer in a research note on Thursday, June 18th. Piper Sandler reiterated an "overweight" rating and set a $97.00 price objective (up from $87.00) on shares of Integer in a report on Friday, May 1st. Finally, Truist Financial raised their price objective on Integer from $97.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Integer currently has an average rating of "Moderate Buy" and a consensus price target of $97.00.

Integer Trading Up 20.3%

The stock's fifty day simple moving average is $93.24 and its 200-day simple moving average is $88.72. The firm has a market cap of $4.12 billion, a PE ratio of 30.26, a PEG ratio of 2.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.75 and a quick ratio of 2.38.

Integer (NYSE:ITGR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.01). The company had revenue of $439.58 million for the quarter, compared to analysts' expectations of $426.48 million. Integer had a net margin of 7.64% and a return on equity of 12.83%. Integer's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. On average, sell-side analysts forecast that Integer Holdings Corporation will post 6.04 earnings per share for the current year.

Institutional Investors Weigh In On Integer

A number of institutional investors and hedge funds have recently modified their holdings of ITGR. Irenic Capital Management LP acquired a new position in Integer in the 4th quarter worth approximately $99,109,000. Alliancebernstein L.P. increased its stake in shares of Integer by 885.1% in the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider's stock worth $136,016,000 after acquiring an additional 993,810 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Integer by 1,141.6% during the first 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 during the last quarter. Millennium Management LLC raised its holdings in shares of Integer by 3,350.2% during the fourth quarter. Millennium Management LLC now owns 677,108 shares of the medical equipment provider's stock worth $53,106,000 after purchasing an additional 657,483 shares during the last quarter. Finally, J. Goldman & Co LP acquired a new position in Integer during the fourth quarter valued at $40,531,000. Institutional investors and hedge funds own 99.29% of the company's stock.

About Integer

Integer Holdings Corporation NYSE: ITGR is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.

Integer's product portfolio is organized into two core segments: Advanced Delivery and MedTech.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.