Integer (NYSE:ITGR) Shares Gap Down – Here’s What Happened

Integer Holdings Co. (NYSE:ITGR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $126.53, but opened at $121.28. Integer shares last traded at $124.59, with a volume of 52,255 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Benchmark upped their price target on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price (up from $125.00) on shares of Integer in a research report on Friday. Truist Financial reduced their price target on shares of Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer initiated coverage on shares of Integer in a research report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 target price for the company. Finally, KeyCorp lifted their price target on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.75.

Integer Stock Down 0.7 %

The stock’s 50-day simple moving average is $127.58 and its 200-day simple moving average is $120.98. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.22 billion, a P/E ratio of 43.54, a P/E/G ratio of 1.86 and a beta of 1.08.

Integer (NYSE:ITGR) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Integer had a return on equity of 11.48% and a net margin of 6.31%. The company had revenue of $431.42 million during the quarter, compared to the consensus estimate of $440.59 million. During the same period last year, the business posted $1.27 earnings per share. Integer’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Integer Holdings Co. will post 5.3 earnings per share for the current fiscal year.

Insider Activity at Integer

In other Integer news, Director Jean M. Hobby sold 11,960 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total value of $1,431,133.60. Following the transaction, the director now directly owns 2,280 shares in the company, valued at $272,824.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Trading of Integer

Hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC increased its holdings in Integer by 62.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 353,052 shares of the medical equipment provider’s stock worth $40,880,000 after acquiring an additional 135,750 shares during the last quarter. F M Investments LLC purchased a new position in shares of Integer in the second quarter worth about $11,143,000. Point72 Europe London LLP bought a new stake in shares of Integer in the second quarter valued at approximately $6,241,000. Earnest Partners LLC lifted its stake in shares of Integer by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock valued at $139,911,000 after buying an additional 37,340 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Integer by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,826,088 shares of the medical equipment provider’s stock worth $446,428,000 after buying an additional 23,382 shares during the period. 99.29% of the stock is currently owned by institutional investors.

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.