Integer (NYSE:ITGR) Rating Increased to B at TheStreet

Integer (NYSE:ITGR) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Monday, August 6th.

Other research analysts have also recently issued reports about the stock. Northcoast Research raised shares of Integer to a “buy” rating and set a $83.00 price target on the stock in a report on Friday, July 20th. Zacks Investment Research cut shares of Integer from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine cut shares of Integer from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 12th. KeyCorp reaffirmed an “overweight” rating and set a $78.00 target price (up from $65.00) on shares of Integer in a report on Friday, July 6th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $72.00 target price on shares of Integer in a report on Friday, August 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Integer has an average rating of “Buy” and a consensus price target of $76.80.

NYSE:ITGR traded up $0.90 during mid-day trading on Monday, hitting $79.90. The stock had a trading volume of 213,800 shares, compared to its average volume of 212,880. The company has a market capitalization of $2.49 billion, a P/E ratio of 28.43 and a beta of 0.86. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.95 and a current ratio of 3.80. Integer has a twelve month low of $42.50 and a twelve month high of $80.53.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.18. The firm had revenue of $313.00 million for the quarter, compared to analysts’ expectations of $379.41 million. Integer had a net margin of 6.63% and a return on equity of 12.60%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. equities analysts forecast that Integer will post 3.57 earnings per share for the current year.

In other Integer news, VP Timothy G. Mcevoy sold 21,667 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $76.93, for a total value of $1,666,842.31. Following the sale, the vice president now owns 40,156 shares in the company, valued at $3,089,201.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Friedman sold 6,326 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $72.01, for a total transaction of $455,535.26. Following the completion of the sale, the chief financial officer now owns 8,366 shares in the company, valued at approximately $602,435.66. The disclosure for this sale can be found here. Insiders sold 64,072 shares of company stock worth $4,709,676 over the last three months. 3.60% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in Integer in the second quarter valued at approximately $111,000. Federated Investors Inc. PA boosted its position in Integer by 236.3% in the second quarter. Federated Investors Inc. PA now owns 2,411 shares of the medical equipment provider’s stock valued at $156,000 after buying an additional 1,694 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Integer in the first quarter valued at approximately $140,000. BlueMountain Capital Management LLC acquired a new stake in Integer in the second quarter valued at approximately $194,000. Finally, South State Corp acquired a new position in shares of Integer during the second quarter worth $200,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Integer Company Profile

Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates through two segments, Medical and Non-Medical. The company offers arthroscopic devices and components, such as shaver blades and burrs, ablation probes, and suture anchors; laparoscopic and general surgery products, including trocars, endoscopes and laparoscopes, closure devices, harmonic scalpels, bipolar energy delivery devices, radio frequency probes, thermal tumor ablation devices, and ophthalmic surgery devices; and biopsy and drug delivery products.

Featured Article: Stock Symbols and CUSIP Explained

Receive News & Ratings for Integer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integer and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply