Integer (NYSE:ITGR) Sets New 52-Week High - What's Next?

Key Points

• Integer shares reached a new 52-week high of $126.79, with the stock trading near $126.71 and its 200-day moving average at $104.28.
• Analyst sentiment remains cautious: one analyst rates Integer a Buy and 13 rate it Hold, resulting in a consensus Hold rating and a $109.86 price target, below the current share price.
• Integer exceeded quarterly expectations with EPS of $1.60 versus the $1.38 consensus and revenue of $464.11 million, while insiders sold nearly 40,948 shares worth about $5.17 million over the past three months.

Shares of Integer Holdings Corporation (NYSE:ITGR - Get Free Report) hit a new 52-week high on Friday. The stock traded as high as $126.79 and last traded at $126.7140, with a volume of 29,751 shares trading hands. The stock had previously closed at $126.72.

Analysts Set New Price Targets

ITGR has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on Integer from $84.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 4th. Truist Financial cut shares of Integer from a "buy" rating to a "hold" rating and lifted their price objective for the company from $110.00 to $127.00 in a research note on Monday, August 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Integer in a research note on Monday, September 14th. Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a research note on Monday, August 3rd. Finally, Benchmark lowered shares of Integer from a "buy" rating to a "hold" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Integer has a consensus rating of "Hold" and a consensus price target of $109.86.

Integer Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 3.73 and a quick ratio of 2.41. The company has a market capitalization of $4.31 billion, a P/E ratio of 34.62, a P/E/G ratio of 2.41 and a beta of 0.58. The stock's 50 day simple moving average is $125.93 and its two-hundred day simple moving average is $104.28.

Integer (NYSE:ITGR - Get Free Report) last issued its earnings results 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 the consensus estimate of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. The business's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, research analysts expect that Integer Holdings Corporation will post 6.09 earnings per share for the current year.

Insider Buying and Selling

In other Integer news, insider Kirk Thor sold 11,767 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $126.23, for a total value of $1,485,348.41. Following the transaction, the insider directly owned 7,153 shares of the company's stock, valued at $902,923.19. This trade represents a 62.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Senn sold 9,408 shares of Integer stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following 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 disclosure for this sale is available in the SEC filing. Insiders have sold 40,948 shares of company stock worth $5,169,920 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Integer in the second quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in Integer by 48.1% in the first quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider's stock worth $32,000 after acquiring an additional 117 shares in the last quarter. 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 acquiring an additional 385 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Integer in the second quarter worth about $42,000. Finally, Farther Finance Advisors LLC lifted its holdings in Integer by 64.4% in 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 period. Hedge funds and other institutional investors own 99.29% of the company's stock.

Integer Company Profile

Integer Holdings Corporation NYSE: ITGR is a medical device contract development and manufacturing company. The company designs, develops and manufactures components and finished products for medical device manufacturers, helping customers bring products from concept and development through commercial production.

Integer's products and technologies support a range of medical applications, including cardiac and vascular devices, neuromodulation systems, orthopedics, and other specialty medical products.

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