Oppenheimer Downgrades Integer (NYSE:ITGR) to Market Perform

Integer (NYSE:ITGR) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Friday, Marketbeat Ratings reports.

Several other brokerages also recently commented on ITGR. Truist Financial raised their target price on Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company restated an “overweight” rating and issued a $160.00 target price on shares of Integer in a research note on Tuesday, December 3rd. Piper Sandler restated an “overweight” rating and issued a $140.00 target price (up previously from $125.00) on shares of Integer in a research note on Friday, October 25th. KeyCorp raised their target price on Integer from $144.00 to $154.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Citigroup raised their target price on Integer from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.67.

Integer Stock Down 3.9 %

ITGR stock opened at $129.96 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.09 and a current ratio of 2.95. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.72 and a beta of 1.13. Integer has a fifty-two week low of $98.63 and a fifty-two week high of $146.36. The stock has a fifty day moving average of $137.74 and a 200-day moving average of $132.44.

Integer (NYSE:ITGR) last posted its quarterly earnings results on Thursday, February 20th. The medical equipment provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). The firm had revenue of $449.50 million for the quarter, compared to the consensus estimate of $446.28 million. Integer had a return on equity of 11.65% and a net margin of 6.92%. As a group, equities research analysts predict that Integer will post 6.01 earnings per share for the current year.

Institutional Trading of Integer

Several institutional investors and hedge funds have recently modified their holdings of ITGR. Raymond James Financial Inc. purchased a new stake in shares of Integer in the 4th quarter valued at about $38,073,000. Capital Research Global Investors raised its holdings in shares of Integer by 16.0% during the 4th quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider’s stock valued at $186,960,000 after buying an additional 194,895 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Integer during the 4th quarter valued at about $22,775,000. Eagle Asset Management Inc. purchased a new position in shares of Integer during the 3rd quarter valued at about $14,403,000. Finally, Northern Trust Corp raised its holdings in shares of Integer by 14.2% during the 4th quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider’s stock valued at $55,974,000 after buying an additional 52,556 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

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.