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Integer (NYSE:ITGR) Price Target Cut to $137.00 by Analysts at Truist Financial

Integer logo with Medical background

Key Points

  • Truist Financial has lowered its price target for Integer (ITGR) from $145.00 to $137.00, maintaining a "buy" rating for the stock.
  • Integer’s current stock performance shows a trading price of $106.09, with a market cap of $3.70 billion and a price-to-earnings ratio of 50.29.
  • A significant number of institutional investors own 99.29% of Integer's stock, reflecting strong institutional support for the company.
  • Integer recently reported a quarterly earnings miss with $1.55 EPS, slightly below the expected $1.57 EPS, though revenue exceeded estimates at $476 million.
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Integer (NYSE:ITGR - Free Report) had its target price reduced by Truist Financial from $145.00 to $137.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the medical equipment provider's stock.

ITGR has been the subject of several other reports. Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and upped their target price for the company from $133.00 to $140.00 in a research note on Thursday, May 22nd. Raymond James Financial upped their target price on 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 target price on Integer from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company dropped their target price on Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Wall Street Zen upgraded Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $140.25.

Check Out Our Latest Analysis on ITGR

Integer Price Performance

ITGR stock traded up $1.07 during midday trading on Friday, hitting $108.17. 614,623 shares of the stock were exchanged, compared to its average volume of 474,587. The stock's 50-day moving average price is $118.78 and its 200-day moving average price is $123.65. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 47.65, a PEG ratio of 0.93 and a beta of 0.98. Integer has a fifty-two week low of $104.93 and a fifty-two week high of $146.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 3.41.

Integer (NYSE:ITGR - Get Free Report) last issued 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 4.61% and a return on equity of 12.27%. The company had revenue of $476.00 million during the quarter, compared to analysts' expectations of $464.37 million. During the same quarter in the prior year, the company earned $1.30 earnings per share. The firm's revenue was up 11.4% compared to the same quarter last year. Research analysts predict that Integer will post 6.01 earnings per share for the current year.

Insider Transactions at Integer

In other news, Director Martin C. Maxwell sold 8,720 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $120.56, for a total value of $1,051,283.20. Following the transaction, the director directly owned 22,170 shares in the company, valued at $2,672,815.20. This trade represents a 28.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donald J. Spence sold 14,739 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was 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 owned 18,781 shares in the company, valued at approximately $2,260,856.78. This trade represents a 43.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 362,434 shares of company stock worth $44,577,115 in the last three months. 2.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Integer

Large investors have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Integer in the first quarter valued at about $28,000. AdvisorNet Financial Inc acquired a new stake in shares of Integer in the first quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in shares of Integer in the first quarter valued at about $35,000. Bessemer Group Inc. grew its stake in shares of Integer by 73.1% in the first quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 125 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Integer by 472.9% in the fourth quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 279 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Integer Company Profile

(Get Free Report)

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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