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

Integer Holdings Co. (NYSE:ITGR) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,230,000 shares, a growth of 5.7% from the November 30th total of 2,110,000 shares. Based on an average trading volume of 242,000 shares, the days-to-cover ratio is presently 9.2 days. Currently, 6.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ITGR. Earnest Partners LLC lifted its stake in Integer by 3.2% during the second quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock valued at $139,911,000 after buying an additional 37,340 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Integer by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 764,528 shares of the medical equipment provider’s stock valued at $99,408,000 after acquiring an additional 9,421 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Integer by 3.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 538,027 shares of the medical equipment provider’s stock worth $69,943,000 after purchasing an additional 15,446 shares during the period. Congress Asset Management Co. grew its position in Integer by 3.9% during the 3rd quarter. Congress Asset Management Co. now owns 488,785 shares of the medical equipment provider’s stock worth $63,542,000 after purchasing an additional 18,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Integer by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 404,029 shares of the medical equipment provider’s stock valued at $52,524,000 after purchasing an additional 4,946 shares during the period. Institutional investors own 99.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ITGR. Wells Fargo & Company reiterated an “overweight” rating and set a $160.00 target price on shares of Integer in a report on Tuesday, December 3rd. Truist Financial raised their target price on Integer from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. KeyCorp boosted their price target on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Benchmark raised their price objective on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Bank of America upped their target price on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Integer presently has an average rating of “Moderate Buy” and an average price target of $145.44.

Integer Stock Performance

ITGR opened at $132.52 on Wednesday. Integer has a twelve month low of $94.56 and a twelve month high of $142.76. The stock has a market cap of $4.44 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The business’s 50 day moving average is $134.95 and its 200-day moving average is $127.04. The company has a current ratio of 3.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67.

Integer (NYSE:ITGR) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Integer had a net margin of 6.70% and a return on equity of 11.63%. The firm had revenue of $431.42 million during the quarter, compared to analyst estimates of $440.59 million. During the same quarter in the prior year, the firm posted $1.27 EPS. Integer’s revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Integer will post 5.33 earnings per share for the current year.

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.