Integer (NYSE:ITGR) Reaches New 52-Week High – Still a Buy?

Integer Holdings Corporation (NYSE:ITGR)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $126.14 and last traded at $125.5720, with a volume of 1658621 shares changing hands. The stock had previously closed at $125.00.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research upgraded Integer from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Piper Sandler cut Integer from an “overweight” rating to a “hold” rating and set a $127.00 price objective for the company. in a report on Monday. Raymond James Financial lowered shares of Integer from a “moderate buy” rating to a “hold” rating in a research report on Monday. Citigroup raised their target price on shares of Integer from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Oppenheimer downgraded shares of Integer from an “outperform” rating to a “market perform” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.86.

Integer Stock Performance

The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The stock has a 50-day moving average of $95.99 and a 200-day moving average of $89.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.38 and a current ratio of 3.75.

Integer (NYSE:ITGR) last issued its quarterly earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.22. The company had revenue of $464.11 million during the quarter, compared to analysts’ expectations of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.77%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $1.55 EPS. As a group, analysts anticipate that Integer Holdings Corporation will post 6.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Integer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITGR. Salomon & Ludwin LLC grew its holdings in shares of Integer by 46.8% in the 4th quarter. Salomon & Ludwin LLC now owns 370 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Integer by 48.1% during the first quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 117 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Integer by 1,037.5% during the fourth quarter. TD Private Client Wealth LLC now owns 455 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 415 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Integer by 135.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 464 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Arax Advisory Partners grew its stake in Integer by 2,489.5% in the fourth quarter. Arax Advisory Partners now owns 492 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 473 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Integer Company Profile

Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.

Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.