Integer (NYSE:ITGR) Stock Price Down 2.2% – Here’s Why

Integer Holdings Co. (NYSE:ITGR) shares fell 2.2% during trading on Friday . The stock traded as low as $115.28 and last traded at $115.82. 456,285 shares changed hands during mid-day trading, an increase of 45% from the average session volume of 315,621 shares. The stock had previously closed at $118.40.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ITGR shares. KeyCorp lifted their price objective on shares of Integer from $144.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Integer in a research note on Tuesday, December 3rd. Truist Financial lifted their price objective on Integer from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer lowered Integer from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Finally, Citigroup boosted their price objective on shares of Integer from $130.00 to $145.00 and gave the stock a “neutral” rating in a research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.67.

Integer Price Performance

The company has a market cap of $3.94 billion, a P/E ratio of 34.89, a P/E/G ratio of 1.72 and a beta of 1.24. 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 stock has a 50-day simple moving average of $134.43 and a 200 day simple moving average of $132.75.

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

Hedge Funds Weigh In On Integer

Several institutional investors have recently bought and sold shares of ITGR. Capital Research Global Investors lifted its stake in shares of Integer by 16.0% in 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 purchasing an additional 194,895 shares during the period. Geode Capital Management LLC raised its position in shares of Integer by 1.2% in the third quarter. Geode Capital Management LLC now owns 764,528 shares of the medical equipment provider’s stock valued at $99,408,000 after buying an additional 9,421 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Integer by 3.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 558,715 shares of the medical equipment provider’s stock valued at $74,041,000 after acquiring an additional 20,688 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Integer by 2.0% during the fourth quarter. Congress Asset Management Co. now owns 498,350 shares of the medical equipment provider’s stock worth $66,041,000 after buying an additional 9,565 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its position in Integer by 5.5% during the 4th quarter. Driehaus Capital Management LLC now owns 451,464 shares of the medical equipment provider’s stock worth $59,828,000 after buying an additional 23,706 shares during the period. Institutional investors own 99.29% of the company’s stock.

Integer Company Profile

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.