Integer (NYSE:ITGR) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Integer Holdings Corporation (NYSE:ITGR) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $126.50 and traded as high as $126.70. Integer shares last traded at $126.6550, with a volume of 963,688 shares.

Analysts Set New Price Targets

ITGR has been the subject of a number of research reports. Piper Sandler downgraded Integer from an “overweight” rating to a “hold” rating and set a $127.00 target price for the company. in a report on Monday, August 3rd. KeyCorp lowered Integer from an “overweight” rating to a “sector weight” rating in a research note on Monday, August 3rd. Truist Financial cut shares of Integer from a “buy” rating to a “hold” rating and upped their price objective for the stock from $110.00 to $127.00 in a research report on Monday, August 3rd. Raymond James Financial downgraded Integer from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Oppenheimer lowered shares of Integer from an “outperform” rating to a “market perform” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Integer currently has a consensus rating of “Hold” and an average target price of $113.67.

Integer Stock Performance

The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 42.50, a P/E/G ratio of 2.40 and a beta of 0.60. The company has a 50 day moving average price of $126.50 and a 200 day moving average price of $102.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.60 and a current ratio of 3.98.

Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.34). Integer had a return on equity of 11.84% and a net margin of 5.68%. The firm had revenue of $449.66 million for the quarter, compared to analysts’ expectations of $456.91 million. During the same period in the prior year, the firm earned $1.79 earnings per share. Integer’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts predict that Integer Holdings Corporation will post 6.09 earnings per share for the current fiscal year.

Insider Transactions at Integer

In other Integer news, insider Kirk K. Thor sold 19,773 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,388,650. This represents a 51.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew Senn sold 9,408 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the completion of the sale, the insider owned 5,405 shares of the company’s stock, valued at approximately $682,651.50. This trade represents a 63.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,948 shares of company stock worth $5,169,920 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Integer by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider’s stock worth $130,620,000 after purchasing an additional 90,277 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Integer by 1,141.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider’s stock valued at $72,076,000 after purchasing an additional 753,081 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Integer during the second quarter worth about $50,925,000. First Trust Capital Management L.P. bought a new position in shares of Integer in the 3rd quarter worth approximately $64,247,000. Finally, William Blair Investment Management LLC purchased a new position in Integer during the 2nd quarter valued at about $35,390,000. 99.29% of the stock is owned by institutional investors.

About Integer

Integer Holdings Corporation develops and manufactures medical-device components and provides outsourced manufacturing services for medical technology companies. Its products are used in devices for cardiac rhythm management, neuromodulation, cardiovascular care, and other medical applications. The company’s offerings include batteries, capacitors, leads, catheters, and precision components, as well as engineered assemblies and manufacturing support. Integer serves medical-device original equipment manufacturers around the world.