Integer (NYSE:ITGR) Sees Strong Trading Volume – Here’s Why

Shares of Integer Holdings Co. (NYSE:ITGR) saw unusually-high trading volume on Monday . Approximately 225,325 shares were traded during trading, a decline of 24% from the previous session’s volume of 296,848 shares.The stock last traded at $120.69 and had previously closed at $121.96.

Wall Street Analysts Forecast Growth

ITGR has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Integer in a research report on Tuesday, December 3rd. Oppenheimer cut shares of Integer from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Truist Financial increased their target price on shares of Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. KeyCorp increased their target price on shares of Integer from $144.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup increased their target price on shares of Integer from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.67.

Integer Price Performance

The company has a 50 day moving average price of $134.96 and a 200-day moving average price of $132.94. The company has a quick ratio of 2.09, a current ratio of 2.95 and a debt-to-equity ratio of 0.62. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 1.72 and a beta of 1.24.

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

Institutional Trading of Integer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITGR. Janney Montgomery Scott LLC increased its position in Integer by 2.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 9,668 shares of the medical equipment provider’s stock valued at $1,257,000 after purchasing an additional 246 shares during the period. Crossmark Global Holdings Inc. increased its position in Integer by 14.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,899 shares of the medical equipment provider’s stock valued at $377,000 after purchasing an additional 372 shares during the period. State of New Jersey Common Pension Fund D increased its position in Integer by 1.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 15,582 shares of the medical equipment provider’s stock valued at $2,026,000 after purchasing an additional 268 shares during the period. Versor Investments LP grew its position in shares of Integer by 48.0% during the 3rd quarter. Versor Investments LP now owns 3,404 shares of the medical equipment provider’s stock worth $443,000 after buying an additional 1,104 shares during the period. Finally, North Growth Management Ltd. grew its position in shares of Integer by 7.6% during the 3rd quarter. North Growth Management Ltd. now owns 99,000 shares of the medical equipment provider’s stock worth $12,857,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds 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.