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

Integer Holdings Co. (NYSE:ITGR) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,320,000 shares, a growth of 7.9% from the October 31st total of 2,150,000 shares. Currently, 7.2% of the company’s shares are sold short. Based on an average daily volume of 272,100 shares, the short-interest ratio is presently 8.5 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ITGR shares. Citigroup raised their target price on shares of Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Bank of America raised their target price on shares of Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Truist Financial decreased their target price on shares of Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company reissued an “overweight” rating and issued a $160.00 target price on shares of Integer in a research report on Tuesday. Finally, Benchmark raised their target price on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

Integer Stock Performance

Integer stock traded up $2.32 during mid-day trading on Tuesday, reaching $141.09. The company’s stock had a trading volume of 304,775 shares, compared to its average volume of 307,405. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 1.99 and a beta of 1.12. The business has a 50 day moving average price of $131.87 and a 200-day moving average price of $124.78. 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 has a twelve month low of $86.42 and a twelve month high of $142.00.

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

Institutional Trading of Integer

Several institutional investors and hedge funds have recently bought and sold shares of ITGR. Contravisory Investment Management Inc. increased its holdings in Integer by 55.9% in the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 80 shares during the last quarter. Huntington National Bank increased its holdings in Integer by 8,933.3% in the third quarter. Huntington National Bank now owns 271 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 268 shares during the last quarter. Quest Partners LLC increased its holdings in Integer by 3,688.9% in the second quarter. Quest Partners LLC now owns 341 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 332 shares during the last quarter. GAMMA Investing LLC increased its holdings in Integer by 60.9% in the second quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 142 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Integer during the second quarter valued at approximately $110,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

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.