Integer (ITGR) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of Integer (NYSE:ITGR) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently commented on ITGR. Zacks Investment Research cut shares of Integer from a strong-buy rating to a hold rating in a research note on Monday, January 7th. Royal Bank of Canada boosted their price objective on shares of Integer from $84.00 to $92.00 and gave the company a sector perform rating in a research note on Monday, February 25th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $89.40.

Shares of NYSE:ITGR opened at $70.89 on Thursday. The company has a market cap of $2.31 billion, a P/E ratio of 18.66 and a beta of 0.98. Integer has a 12 month low of $54.20 and a 12 month high of $92.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.53 and a quick ratio of 1.37.

Integer (NYSE:ITGR) last issued its quarterly earnings data on Thursday, February 21st. The medical equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.92 by $0.12. The company had revenue of $303.00 million during the quarter, compared to analysts’ expectations of $301.25 million. Integer had a net margin of 12.88% and a return on equity of 12.56%. Integer’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. As a group, equities research analysts anticipate that Integer will post 4.2 earnings per share for the current year.

In related news, SVP Anthony W. Borowicz sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $85.92, for a total transaction of $214,800.00. Following the completion of the transaction, the senior vice president now owns 18,124 shares of the company’s stock, valued at $1,557,214.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Donald J. Spence sold 50,559 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $85.41, for a total transaction of $4,318,244.19. Following the completion of the transaction, the director now directly owns 41,285 shares of the company’s stock, valued at approximately $3,526,151.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,147 shares of company stock valued at $5,358,962. 2.24% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ITGR. FMR LLC purchased a new position in Integer in the 3rd quarter worth approximately $36,552,000. Norges Bank purchased a new position in Integer in the 4th quarter worth approximately $30,458,000. American Century Companies Inc. grew its stake in Integer by 158.3% in the 4th quarter. American Century Companies Inc. now owns 379,748 shares of the medical equipment provider’s stock worth $28,960,000 after buying an additional 232,702 shares in the last quarter. Renaissance Technologies LLC grew its stake in Integer by 199.4% in the 3rd quarter. Renaissance Technologies LLC now owns 235,300 shares of the medical equipment provider’s stock worth $19,518,000 after buying an additional 156,700 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Integer in the 4th quarter worth approximately $10,747,000. 95.80% of the stock is owned by institutional investors and hedge funds.

Integer Company Profile

Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates in two segments, Medical and Non-Medical. The company offers products for vascular, cardiac surgery, and structural heart diseases; peripheral vascular, neurovascular, urology, and oncology products; and electrophysiology, infusion therapy, and hemodialysis products.

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