Integer (NYSE:ITGR) Sees Strong Trading Volume - Here's Why

Key Points

• Integer’s trading volume rose 16% to approximately 894,353 shares, while the stock traded near $126.30.
• Analysts largely remain cautious: 13 analysts rate Integer “Hold” and one rates it “Buy,” producing a consensus “Hold” rating and an average price target of $109.86.
• Integer exceeded quarterly expectations, reporting $1.60 in EPS versus the $1.38 consensus and revenue of $464.11 million, though revenue declined 2.6% year over year. Insiders sold about $5.17 million of stock over the past three months, while institutional investors own 99.29% of shares.

Integer Holdings Corporation (NYSE:ITGR - Get Free Report) shares saw unusually-strong trading volume on Monday. Approximately 894,353 shares were traded during trading, an increase of 16% from the previous session's volume of 769,018 shares. The stock last traded at $126.2950 and had previously closed at $126.34.

Analyst Ratings Changes

Several equities research analysts recently commented on ITGR shares. Zacks Research upgraded Integer from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Freedom Capital downgraded Integer from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target 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. Citigroup boosted their price objective on Integer from $92.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Finally, HC Wainwright restated a "buy" rating on shares of Integer in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $109.86.

Integer Price Performance

The firm has a 50 day moving average price of $120.62 and a 200 day moving average price of $100.19. 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 has a market cap of $4.29 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.40 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 EPS for the quarter, beating the consensus estimate of $1.38 by $0.22. The firm had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. Integer's revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.55 EPS. On average, analysts forecast that Integer Holdings Corporation will post 6.09 EPS for the current fiscal year.

Insider Transactions at Integer

In other Integer news, insider Andrew Senn sold 9,408 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 5,405 shares in the company, valued at $682,651.50. This represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kirk K. Thor sold 11,767 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 7,153 shares of the company's stock, valued at approximately $902,923.19. The trade was a 62.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,948 shares of company stock valued at $5,169,920 over the last three months. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Integer

Several large investors have recently added to or reduced their stakes in the company. 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 valued at $130,620,000 after acquiring an additional 90,277 shares in the last quarter. Irenic Capital Management LP purchased a new stake in shares of Integer during the fourth quarter worth $99,109,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 acquiring an additional 753,081 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Integer by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 832,911 shares of the medical equipment provider's stock worth $65,336,000 after purchasing an additional 3,664 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Integer in the 2nd quarter valued at approximately $50,925,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Integer Company Profile

Integer Holdings Corporation, doing business as Integer, is a medical device contract development and manufacturing company. The company partners with medical technology companies to design, develop and manufacture components and finished products used in a range of healthcare applications.

Integer's medical products include batteries and power sources, implantable components, electrodes, leads, catheters and other products used in cardiovascular, neuromodulation, vascular, orthopedic, diabetes and minimally invasive medical devices.

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