Traders Buy Large Volume of Integer Call Options (NYSE:ITGR)

Key Points

• Integer saw unusually heavy call-option activity: Traders bought 2,199 call options, roughly 1,076% above the average volume of 187.
• Integer shares rose to $126.28, near their 52-week high of $126.79, after quarterly earnings of $1.60 per share exceeded estimates of $1.38; revenue also topped expectations.
• Despite strong earnings and institutional ownership of 99.29%, analysts largely maintain a “Hold” rating, with 13 Holds and one Buy and an average price target of $109.86.

Integer Holdings Corporation (NYSE:ITGR - Get Free Report) saw unusually large options trading on Friday. Traders bought 2,199 call options on the company. This is an increase of approximately 1,076% compared to the average volume of 187 call options.

Integer Stock Performance

Integer stock traded up $0.23 during trading on Friday, hitting $126.28. The stock had a trading volume of 60,926 shares, compared to its average volume of 772,949. Integer has a 1 year low of $62.00 and a 1 year high of $126.79. The company has a quick ratio of 2.41, a current ratio of 3.73 and a debt-to-equity ratio of 0.75. The stock's 50 day moving average is $113.59 and its two-hundred day moving average is $97.08. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.39 and a beta of 0.62.

Integer (NYSE:ITGR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.22. The company had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. Integer had a return on equity of 12.79% and a net margin of 6.97%.The firm's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. As a group, analysts predict that Integer will post 6.09 EPS for the current year.

Wall Street Analyst Weigh In

ITGR has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Integer from $84.00 to $127.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Raymond James Financial cut Integer from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 3rd. Truist Financial lowered shares of Integer from a "buy" rating to a "hold" rating and raised their target price for the company from $110.00 to $127.00 in a research report on Monday, August 3rd. Freedom Capital downgraded Integer from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Oppenheimer downgraded Integer from an "outperform" rating to a "market perform" rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $109.86.

Insider Transactions at Integer

In related news, insider Andrew Senn sold 9,408 shares of Integer stock in a transaction dated 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 completion of the sale, the insider directly owned 5,405 shares in the company, valued at $682,651.50. This trade represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Integer

A number of large investors have recently modified their holdings of ITGR. California State Teachers Retirement System boosted its holdings in Integer by 8,977.7% in the 2nd quarter. California State Teachers Retirement System now owns 3,702,956 shares of the medical equipment provider's stock valued at $346,041,000 after purchasing an additional 3,662,164 shares during the period. Dimensional Fund Advisors LP boosted its stake in Integer by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider's stock worth $130,620,000 after buying an additional 90,277 shares in the last quarter. State Street Corp boosted its stake in shares of Integer by 3.7% in the 4th quarter. State Street Corp now owns 1,371,767 shares of the medical equipment provider's stock valued at $107,588,000 after purchasing an additional 48,463 shares in the last quarter. Viking Global Investors LP boosted its position in Integer by 9.1% during the second quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider's stock valued at $157,889,000 after buying an additional 106,692 shares during the period. Finally, Irenic Capital Management LP bought a new position in Integer during the 4th quarter worth approximately $99,109,000. 99.29% of the stock is currently owned by institutional investors.

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.

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