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

Integer Holdings Co. (NYSE:ITGR) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,660,000 shares, an increase of 19.8% from the February 28th total of 2,220,000 shares. Currently, 8.2% of the shares of the stock are short sold. Based on an average daily volume of 370,400 shares, the short-interest ratio is presently 7.2 days.

Integer Trading Down 2.3 %

Shares of NYSE:ITGR traded down $2.74 during trading on Thursday, hitting $118.34. The company had a trading volume of 450,780 shares, compared to its average volume of 329,895. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.95 and a quick ratio of 2.09. The company has a fifty day simple moving average of $129.12 and a two-hundred day simple moving average of $131.89. Integer has a one year low of $107.11 and a one year high of $146.36.

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

Institutional Trading of Integer

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in shares of Integer by 23.3% in the third quarter. Jane Street Group LLC now owns 151,397 shares of the medical equipment provider’s stock worth $19,682,000 after buying an additional 28,572 shares during the period. Verition Fund Management LLC grew its position in Integer by 17.4% in the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical equipment provider’s stock valued at $451,000 after acquiring an additional 515 shares during the last quarter. Versant Capital Management Inc increased its stake in Integer by 98.4% in the fourth quarter. Versant Capital Management Inc now owns 369 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 183 shares during the period. KBC Group NV lifted its position in shares of Integer by 83.3% during the fourth quarter. KBC Group NV now owns 1,598 shares of the medical equipment provider’s stock worth $212,000 after purchasing an additional 726 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Integer by 3.5% during the third quarter. Lord Abbett & CO. LLC now owns 290,120 shares of the medical equipment provider’s stock valued at $37,716,000 after purchasing an additional 9,754 shares during the period. Institutional investors own 99.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ITGR has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of Integer from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Raymond James initiated coverage on shares of Integer in a report on Friday, March 28th. They issued an “outperform” rating and a $145.00 price target on the stock. Benchmark increased their price objective on shares of Integer from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Citigroup lifted their target price on Integer from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Oppenheimer cut Integer from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

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.