Integer (NYSE:ITGR) Sets New 1-Year High - Time to Buy?

Key Points

• Integer shares reached a new 52-week high, trading as high as $126.14 and recently changing hands near $125.57.
• Despite the rally, analyst sentiment is cautious: one analyst rates Integer a Buy and 13 rate it Hold, with a consensus price target of $109.86—below the current share price.
• Integer exceeded quarterly expectations, reporting $1.60 in EPS versus the $1.38 consensus and revenue of $464.11 million versus $451.07 million expected, although revenue declined 2.6% year over year.

Shares of Integer Holdings Corporation (NYSE:ITGR - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $126.14 and last traded at $125.5720, with a volume of 1658621 shares traded. The stock had previously closed at $125.00.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ITGR. Raymond James Financial downgraded Integer from a "moderate buy" rating to a "hold" rating in a research report on Monday. Truist Financial downgraded shares of Integer from a "buy" rating to a "hold" rating and raised their price target for the stock from $110.00 to $127.00 in a report on Monday. Citigroup boosted their price target on shares of Integer from $92.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Oppenheimer lowered Integer from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, Zacks Research raised shares of Integer from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Integer currently has an average rating of "Hold" and a consensus target price of $109.86.

Integer Stock Up 0.5%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.38 and a current ratio of 3.75. The firm has a market cap of $4.26 billion, a PE ratio of 34.31, a P/E/G ratio of 2.98 and a beta of 0.61. The firm's 50-day moving average price is $95.99 and its two-hundred day moving average price is $89.84.

Integer (NYSE:ITGR - Get Free Report) last posted its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.22. The business had revenue of $464.11 million for the quarter, compared to analysts' expectations of $451.07 million. Integer had a return on equity of 12.77% and a net margin of 6.97%.The business's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, equities research analysts expect that Integer Holdings Corporation will post 6.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Integer

Several institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Integer by 48.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider's stock worth $32,000 after buying an additional 117 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of Integer by 46.8% in the 4th quarter. Salomon & Ludwin LLC now owns 370 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 118 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Integer by 0.6% during the fourth quarter. Kestra Advisory Services LLC now owns 21,424 shares of the medical equipment provider's stock valued at $1,680,000 after purchasing an additional 136 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Integer by 1.4% in the second quarter. Orion Porfolio Solutions LLC now owns 9,755 shares of the medical equipment provider's stock worth $1,200,000 after buying an additional 138 shares during the period. Finally, Lido Advisors LLC raised its stake in Integer by 5.5% during the 4th quarter. Lido Advisors LLC now owns 2,887 shares of the medical equipment provider's stock valued at $226,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 99.29% of the company's stock.

Integer Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source