Integer (NYSE:ITGR) Sees Large Volume Increase – Still a Buy?

Integer Holdings Corporation (NYSE:ITGR) saw unusually-high trading volume on Friday. 728,754 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 772,707 shares. The stock last traded at $126.6260 and had previously closed at $126.65.

Wall Street Analysts Forecast Growth

ITGR has been the subject of a number of analyst reports. Freedom Capital downgraded shares of Integer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. KeyCorp lowered shares of Integer from an “overweight” rating to a “sector weight” rating in a research note on Monday, August 3rd. HC Wainwright reissued a “buy” rating on shares of Integer in a research note on Friday, July 24th. Citigroup upped their price target on shares of Integer from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, Raymond James Financial downgraded Integer from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $109.86.

Integer Stock Performance

The company has a current ratio of 3.73, a quick ratio of 2.41 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $125.69 and its 200 day moving average is $102.85. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.41 and a beta of 0.58.

Integer (NYSE:ITGR) last announced its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.22. Integer had a net margin of 6.97% and a return on equity of 12.79%. The company had revenue of $464.11 million during the quarter, compared to analysts’ expectations of $451.07 million. During the same quarter in the previous year, the business posted $1.55 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts predict that Integer Holdings Corporation will post 6.09 earnings per share for the current year.

Insider Activity at Integer

In related news, insider Andrew Senn sold 9,408 shares of Integer stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the completion of the transaction, the insider directly owned 5,405 shares in the company, valued at $682,651.50. The trade was a 63.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kirk Thor sold 19,773 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $126.25, for a total value of $2,496,341.25. Following the completion of the sale, the insider directly owned 18,920 shares in the company, valued at approximately $2,388,650. The trade was a 51.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,948 shares of company stock valued at $5,169,920 over the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Integer

Several institutional investors and hedge funds have recently made changes to their positions in ITGR. GAMMA Investing LLC increased its position in Integer by 12.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,335 shares of the medical equipment provider’s stock worth $548,000 after purchasing an additional 489 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Integer by 64.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 490 shares of the medical equipment provider’s stock valued at $62,000 after purchasing an additional 192 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new position in Integer in the 3rd quarter valued at about $253,000. HBK Investments L P acquired a new stake in shares of Integer during the 2nd quarter worth about $14,502,000. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Integer by 4.7% during the second quarter. Sequoia Financial Advisors LLC now owns 3,180 shares of the medical equipment provider’s stock worth $297,000 after buying an additional 142 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Integer Company Profile

Integer Holdings Corporation (NYSE: ITGR) is a medical device contract development and manufacturing company. The company designs, develops and manufactures components and finished products for medical device manufacturers, helping customers bring products from concept and development through commercial production.

Integer’s products and technologies support a range of medical applications, including cardiac and vascular devices, neuromodulation systems, orthopedics, and other specialty medical products.