Short Interest in Integer Holdings Co. (NYSE:ITGR) Decreases By 14.2%

Integer Holdings Co. (NYSE:ITGR - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 2,850,000 shares, a decrease of 14.2% from the April 30th total of 3,320,000 shares. Based on an average trading volume of 658,900 shares, the days-to-cover ratio is currently 4.3 days. Approximately 8.7% of the company's shares are sold short.

Integer Stock Up 0.3%

Shares of ITGR stock traded up $0.35 on Friday, hitting $121.25. The stock had a trading volume of 234,023 shares, compared to its average volume of 375,817. The business has a 50 day moving average of $118.81 and a 200 day moving average of $128.02. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.95 and a quick ratio of 2.09. Integer has a 12-month low of $104.93 and a 12-month high of $146.36.

Integer (NYSE:ITGR - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. Integer had a net margin of 6.92% and a return on equity of 11.65%. The company had revenue of $437.39 million during the quarter, compared to the consensus estimate of $428.51 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts expect that Integer will post 6.01 EPS for the current year.

Insider Buying and Selling at Integer

In related news, CEO Joseph W. Dziedzic sold 338,975 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 47,000 shares of the company's stock, valued at $5,788,990. This represents a 87.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald J. Spence sold 14,739 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the transaction, the director now directly owns 18,781 shares in the company, valued at approximately $2,260,856.78. This represents a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,434 shares of company stock worth $44,577,115. 2.16% of the stock is currently owned by company insiders.

Institutional Trading of Integer

Large investors have recently added to or reduced their stakes in the stock. Mather Group LLC. increased its holdings in Integer by 304.3% during the fourth quarter. Mather Group LLC. now owns 190 shares of the medical equipment provider's stock worth $25,000 after buying an additional 143 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Integer during the fourth quarter worth about $27,000. Opal Wealth Advisors LLC bought a new position in Integer during the first quarter worth about $28,000. AdvisorNet Financial Inc bought a new position in Integer during the first quarter worth about $28,000. Finally, SVB Wealth LLC bought a new position in Integer during the first quarter worth about $35,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ITGR shares. Wall Street Zen raised shares of Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Raymond James raised their price objective on shares of Integer from $145.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Benchmark dropped their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. KeyCorp dropped their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Truist Financial set a $150.00 price objective on shares of Integer and gave the company a "buy" rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $145.00.

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.