Integer (NYSE:ITGR) Receives “Overweight” Rating from Wells Fargo & Company

Wells Fargo & Company reissued their overweight rating on shares of Integer (NYSE:ITGR) in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have a $160.00 price objective on the medical equipment provider’s stock.

Other equities research analysts have also recently issued reports about the company. Truist Financial reduced their target price on Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Citigroup increased their target price on Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Bank of America boosted their price target on shares of Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective (up from $125.00) on shares of Integer in a research note on Friday, October 25th. Finally, KeyCorp upped their target price on shares of Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Integer presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Integer Stock Performance

NYSE:ITGR opened at $141.09 on Tuesday. The stock has a 50-day moving average price of $131.87 and a 200 day moving average price of $124.78. The company has a current ratio of 3.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67. Integer has a 12-month low of $86.42 and a 12-month high of $142.00. The stock has a market capitalization of $4.73 billion, a P/E ratio of 43.55, a P/E/G ratio of 1.99 and a beta of 1.12.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $431.42 million for the quarter, compared to analysts’ expectations of $440.59 million. Integer had a net margin of 6.70% and a return on equity of 11.63%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. Equities research analysts forecast that Integer will post 5.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Integer

Hedge funds and other institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. grew its position in Integer by 55.9% in the 3rd quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 80 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Integer by 0.8% in the third quarter. HighTower Advisors LLC now owns 12,041 shares of the medical equipment provider’s stock worth $1,579,000 after purchasing an additional 90 shares during the last quarter. Xponance Inc. increased its stake in Integer by 4.9% in the 2nd quarter. Xponance Inc. now owns 2,112 shares of the medical equipment provider’s stock worth $245,000 after buying an additional 99 shares during the period. Azzad Asset Management Inc. ADV boosted its position in Integer by 0.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,572 shares of the medical equipment provider’s stock valued at $1,504,000 after buying an additional 107 shares during the period. Finally, GAMMA Investing LLC grew its stake in Integer by 60.9% in the 2nd quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 142 shares in the last quarter. 99.29% of the stock is currently 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.