Raymond James Financial Has Lowered Expectations for Integer (NYSE:ITGR) Stock Price

Key Points

• Raymond James Financial has reduced its price target for Integer (NYSE:ITGR) from $150.00 to $143.00, suggesting a potential upside of 34.28% from the current stock price.
• Other analysts, including Wells Fargo and Benchmark, also lowered their price targets, with a consensus target of $140.25 and a rating of "Moderate Buy."
• Integer's stock recently traded at $106.50, a drop of 0.6%, following the announcement of mixed quarterly earnings.
• Insider selling has occurred, with significant shares sold by the CEO and a director, highlighting potential shifts in investor confidence.

Integer (NYSE:ITGR - Get Free Report) had its price target reduced by equities research analysts at Raymond James Financial from $150.00 to $143.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Raymond James Financial's target price would suggest a potential upside of 34.28% from the stock's current price.

ITGR has been the subject of several other research reports. Wells Fargo & Company decreased their price objective on shares of Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday. Benchmark decreased their target price on shares of Integer from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, April 25th. KeyCorp decreased their target price on shares of Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Truist Financial decreased their target price on shares of Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research note on Friday. Finally, Citigroup upgraded shares of Integer from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from $133.00 to $140.00 in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.25.

Integer Stock Down 0.6%

NYSE:ITGR traded down $0.61 during trading hours on Friday, hitting $106.50. The company's stock had a trading volume of 116,292 shares, compared to its average volume of 493,868. The stock has a market capitalization of $3.72 billion, a P/E ratio of 50.46, a price-to-earnings-growth ratio of 1.00 and a beta of 0.98. The stock has a fifty day moving average of $119.04 and a 200-day moving average of $123.88. The company has a current ratio of 3.40, a quick ratio of 2.14 and a debt-to-equity ratio of 0.78. Integer has a 52-week low of $104.93 and a 52-week high of $146.36.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). Integer had a net margin of 4.38% and a return on equity of 11.95%. The company had revenue of $476.00 million during the quarter, compared to analyst estimates of $464.37 million. During the same quarter in the prior year, the company earned $1.30 EPS. The business's revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Integer will post 6.01 earnings per share for the current year.

Insider Buying and Selling at Integer

In other Integer news, Director Donald J. Spence sold 14,739 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total value of $1,774,280.82. Following the completion of the transaction, the director directly owned 18,781 shares of the company's stock, valued at approximately $2,260,856.78. This trade represents a 43.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph W. Dziedzic sold 338,975 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $123.17, for a total transaction of $41,751,550.75. Following the completion of the transaction, the chief executive officer directly owned 47,000 shares of the company's stock, valued at approximately $5,788,990. This trade represents a 87.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 362,434 shares of company stock valued at $44,577,115. Corporate insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ITGR. Wealth Enhancement Advisory Services LLC acquired a new stake in Integer during the fourth quarter worth approximately $208,000. Teacher Retirement System of Texas acquired a new stake in Integer during the first quarter worth approximately $579,000. LPL Financial LLC boosted its position in Integer by 26.0% during the fourth quarter. LPL Financial LLC now owns 44,508 shares of the medical equipment provider's stock worth $6,165,000 after acquiring an additional 9,196 shares during the last quarter. Alliancebernstein L.P. boosted its position in Integer by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 42,781 shares of the medical equipment provider's stock worth $5,669,000 after acquiring an additional 410 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Integer during the fourth quarter worth approximately $22,775,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

About Integer

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, non-vascular, urology, and gastroenterology procedures.

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