Integer (NYSE:ITGR) Stock Price Expected to Rise, Truist Financial Analyst Says

Integer (NYSE:ITGR) had its price objective boosted by analysts at Truist Financial from $147.00 to $163.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective indicates a potential upside of 17.17% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Citigroup upped their target price on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price (up from $125.00) on shares of Integer in a research note on Friday, October 25th. Bank of America raised their price target on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Benchmark upped their price objective on shares of Integer from $130.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $160.00 price objective on shares of Integer in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Integer has an average rating of “Moderate Buy” and an average price target of $145.44.

Integer Stock Performance

Shares of NYSE ITGR opened at $139.11 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.09 and a current ratio of 3.28. The stock has a 50 day moving average price of $133.32 and a 200 day moving average price of $125.51. The stock has a market capitalization of $4.67 billion, a PE ratio of 42.94, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. Integer has a 52 week low of $93.52 and a 52 week high of $142.76.

Integer (NYSE:ITGR) last released 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. Integer had a net margin of 6.70% and a return on equity of 11.63%. The business had revenue of $431.42 million during the quarter, compared to analysts’ expectations of $440.59 million. During the same period last year, the business earned $1.27 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Analysts predict that Integer will post 5.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Contravisory Investment Management Inc. grew its stake in Integer by 55.9% during the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 80 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Integer by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 12,041 shares of the medical equipment provider’s stock worth $1,579,000 after acquiring an additional 90 shares in the last quarter. Xponance Inc. increased its stake in Integer by 4.9% in the second quarter. Xponance Inc. now owns 2,112 shares of the medical equipment provider’s stock valued at $245,000 after acquiring an additional 99 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in Integer by 0.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 11,572 shares of the medical equipment provider’s stock valued at $1,504,000 after purchasing an additional 107 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Integer by 15.5% during the third quarter. TD Private Client Wealth LLC now owns 1,420 shares of the medical equipment provider’s stock worth $185,000 after purchasing an additional 191 shares during the last quarter. 99.29% of the stock is owned by 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.