Integer (NYSE:ITGR) Reaches New 12-Month High - Still a Buy?

Key Points

• Integer Holdings reached a new 52-week high of $126.83, supported by quarterly earnings of $1.60 per share that exceeded estimates of $1.38, although revenue declined 2.6% year over year.
• Analyst sentiment is cautious: 13 analysts rate the stock Hold and one rates it Buy, with a consensus price target of $109.86—well below its recent trading level.
• Insiders sold nearly 41,000 shares worth approximately $5.17 million during the past quarter, while institutional investors remain dominant owners, holding 99.29% of the company.

Shares of Integer Holdings Corporation (NYSE:ITGR - Get Free Report) hit a new 52-week high during trading on Thursday. The company traded as high as $126.83 and last traded at $126.7350, with a volume of 764,082 shares trading hands. The stock had previously closed at $126.70.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ITGR shares. Piper Sandler downgraded shares of Integer from an "overweight" rating to a "hold" rating and set a $127.00 price objective on the stock. in a report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Integer in a report on Monday, September 14th. Truist Financial downgraded shares of Integer from a "buy" rating to a "hold" rating and boosted their target price for the stock from $110.00 to $127.00 in a research report on Monday, August 3rd. Zacks Research raised shares of Integer from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Freedom Capital lowered shares of Integer from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $109.86.

Integer Stock Performance

The company's 50 day simple moving average is $126.06 and its 200 day simple moving average is $105.41. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.41 and a current ratio of 3.73. The stock has a market cap of $4.31 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58.

Integer (NYSE:ITGR - Get Free Report) last announced its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.22. The firm had revenue of $464.11 million for the quarter, compared to the consensus estimate of $451.07 million. Integer had a return on equity of 12.79% and a net margin of 6.97%. The company's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. Analysts expect that Integer Holdings Corporation will post 6.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kirk Thor sold 11,767 shares of Integer stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $126.23, for a total transaction of $1,485,348.41. Following the sale, the insider directly owned 7,153 shares in the company, valued at approximately $902,923.19. This trade represents a 62.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Senn sold 9,408 shares of the business's stock in a transaction on 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 transaction, the insider directly owned 5,405 shares in the company, valued at approximately $682,651.50. This represents a 63.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,948 shares of company stock worth $5,169,920 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Integer

Several large investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Integer in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in Integer by 48.1% during the first quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 117 shares during the period. Fortitude Family Office LLC grew its position in Integer by 987.2% during the third quarter. Fortitude Family Office LLC now owns 424 shares of the medical equipment provider's stock valued at $54,000 after buying an additional 385 shares during the period. Harbor Investment Advisory LLC purchased a new stake in Integer during the second quarter worth about $42,000. Finally, Farther Finance Advisors LLC increased its holdings in Integer by 64.4% during the third quarter. Farther Finance Advisors LLC now owns 490 shares of the medical equipment provider's stock worth $62,000 after buying an additional 192 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Company Profile

Integer Holdings Corporation NYSE: ITGR is a global medical device and advanced energy technology company. It partners with original equipment manufacturers to design and manufacture components, subassemblies and finished products used in minimally invasive and implantable medical devices.

Its medical technologies include batteries and power systems for pacemakers, implantable cardioverter-defibrillators, neurostimulators and drug-delivery systems, as well as catheter and guidewire components, coated wire, electrodes and other products used in cardiovascular, neuromodulation and other medical applications.

Integer also develops specialty batteries and power solutions for markets such as energy, aerospace and defense.

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