Integer Holdings Co. (NYSE:ITGR) Sees Large Increase in Short Interest

Integer Holdings Co. (NYSE:ITGR) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,230,000 shares, an increase of 5.7% from the November 30th total of 2,110,000 shares. Currently, 6.9% of the company’s stock are short sold. Based on an average daily trading volume, of 242,000 shares, the short-interest ratio is currently 9.2 days.

Analyst Upgrades and Downgrades

ITGR has been the topic of a number of recent research reports. KeyCorp upped their price objective on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Integer in a research report on Tuesday, December 3rd. Benchmark boosted their price objective on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup raised their target price on shares of Integer from $130.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Truist Financial boosted their price target on shares of Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Integer currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.44.

Integer Price Performance

Shares of NYSE:ITGR opened at $132.52 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.28 and a quick ratio of 2.09. Integer has a 12 month low of $94.56 and a 12 month high of $142.76. The firm has a market capitalization of $4.44 billion, a P/E ratio of 40.90, a P/E/G ratio of 2.02 and a beta of 1.12. The company’s fifty day moving average price is $135.07 and its 200 day moving average price is $127.08.

Integer (NYSE:ITGR) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $431.42 million during the quarter, compared to the consensus estimate of $440.59 million. Integer had a return on equity of 11.63% and a net margin of 6.70%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 EPS. As a group, sell-side analysts predict that Integer will post 5.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Integer

A number of hedge funds have recently modified their holdings of ITGR. Loomis Sayles & Co. L P grew its stake in shares of Integer by 3.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 538,027 shares of the medical equipment provider’s stock valued at $69,943,000 after purchasing an additional 15,446 shares during the last quarter. Jane Street Group LLC grew its position in Integer by 23.3% in the 3rd quarter. Jane Street Group LLC now owns 151,397 shares of the medical equipment provider’s stock valued at $19,682,000 after buying an additional 28,572 shares during the last quarter. Earnest Partners LLC raised its position in Integer by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock worth $139,911,000 after buying an additional 37,340 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Integer by 17.4% in the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical equipment provider’s stock worth $451,000 after acquiring an additional 515 shares during the period. Finally, Great Lakes Advisors LLC boosted its holdings in shares of Integer by 56.7% in the second quarter. Great Lakes Advisors LLC now owns 45,218 shares of the medical equipment provider’s stock valued at $5,236,000 after acquiring an additional 16,355 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.