Integer (NYSE:ITGR) Upgraded at Wall Street Zen

Key Points

• Integer has been upgraded from a "hold" to a "buy" rating by Wall Street Zen following strong earnings performance.
• Multiple analysts have varied outlooks on Integer's stock, with target prices ranging from $132 to $140, reflecting a generally positive sentiment towards the company.
• Integer reported earnings of $1.55 per share, slightly missing analyst expectations, but showed an impressive revenue growth of 11.4% year-over-year.

Wall Street Zen upgraded shares of Integer (NYSE:ITGR - Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other research firms also recently weighed in on ITGR. Wells Fargo & Company lowered their price target on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $133.00 to $140.00 in a research report on Thursday, May 22nd. Truist Financial reduced their price target on shares of Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Raymond James Financial lowered their price objective on shares of Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $140.25.

Integer Price Performance

Shares of ITGR traded down $1.47 during midday trading on Friday, hitting $105.51. 93,193 shares of the company traded hands, compared to its average volume of 468,040. Integer has a one year low of $104.93 and a one year high of $146.36. The firm has a market cap of $3.70 billion, a P/E ratio of 46.40, a PEG ratio of 0.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.41 and a quick ratio of 2.18. The stock has a 50-day moving average of $112.21 and a 200-day moving average of $117.51.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). The firm had revenue of $476.00 million for the quarter, compared to analysts' expectations of $464.37 million. Integer had a net margin of 4.61% and a return on equity of 12.27%. Integer's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. As a group, sell-side analysts predict that Integer will post 6.01 EPS for the current fiscal year.

Insider Activity at Integer

In related news, Director Martin C. Maxwell sold 8,720 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the completion of the transaction, the director owned 22,170 shares of the company's stock, valued at $2,672,815.20. This trade represents a 28.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Integer

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Integer by 1.0% in the 2nd quarter. State Street Corp now owns 1,326,050 shares of the medical equipment provider's stock worth $163,064,000 after acquiring an additional 13,540 shares during the last quarter. Viking Global Investors LP raised its stake in shares of Integer by 9.1% in the second quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider's stock worth $157,889,000 after purchasing an additional 106,692 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Integer by 885.1% during the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider's stock valued at $136,016,000 after purchasing an additional 993,810 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Integer by 11.5% during the second quarter. Franklin Resources Inc. now owns 907,232 shares of the medical equipment provider's stock valued at $111,562,000 after buying an additional 93,294 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Integer by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 819,089 shares of the medical equipment provider's stock worth $100,736,000 after buying an additional 31,026 shares in the last quarter. 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.