Raymond James Initiates Coverage on Integer (NYSE:ITGR)

Research analysts at Raymond James started coverage on shares of Integer (NYSE:ITGR) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $145.00 price target on the medical equipment provider’s stock. Raymond James’ target price suggests a potential upside of 23.83% from the company’s current price.

A number of other brokerages also recently issued reports on ITGR. Citigroup upped their price objective on Integer from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer downgraded shares of Integer from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Wells Fargo & Company reiterated 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 target on shares of Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Benchmark increased their price objective on Integer from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.56.

Integer Stock Performance

Shares of ITGR stock opened at $117.09 on Friday. 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 firm has a 50-day moving average of $130.47 and a 200-day moving average of $132.03. Integer has a one year low of $107.11 and a one year high of $146.36. The company has a market cap of $3.94 billion, a P/E ratio of 34.85, a P/E/G ratio of 1.72 and a beta of 1.24.

Integer (NYSE:ITGR) last posted its earnings results 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). The firm had revenue of $449.50 million for the quarter, compared to the consensus estimate of $446.28 million. Integer had a return on equity of 11.65% and a net margin of 6.92%. Equities research analysts forecast that Integer will post 6.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Integer

A number of large investors have recently made changes to their positions in ITGR. Jane Street Group LLC lifted its holdings in Integer by 23.3% during the 3rd quarter. Jane Street Group LLC now owns 151,397 shares of the medical equipment provider’s stock worth $19,682,000 after purchasing an additional 28,572 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Integer by 17.4% in the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical equipment provider’s stock worth $451,000 after buying an additional 515 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 buying an additional 183 shares in the last quarter. KBC Group NV boosted its position in shares of Integer by 83.3% in the fourth quarter. KBC Group NV now owns 1,598 shares of the medical equipment provider’s stock valued at $212,000 after acquiring an additional 726 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in 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 acquiring an additional 9,754 shares in 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.