Wells Fargo & Company Has Lowered Expectations for Integer (NYSE:ITGR) Stock Price

Integer (NYSE:ITGR) had its price objective reduced by Wells Fargo & Company from $152.00 to $132.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Raymond James Financial increased their price objective on shares of Integer from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Integer from a “sell” rating to a “hold” rating in a research report on Monday, May 19th. Citigroup upgraded shares of Integer from a “hold” rating to a “strong-buy” rating and increased their price target for the stock from $133.00 to $140.00 in a research report on Thursday, May 22nd. Truist Financial set a $150.00 price target on shares of Integer and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, KeyCorp reduced their price target on shares of Integer from $154.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.25.

Integer Stock Performance

ITGR opened at $108.17 on Friday. Integer has a 1 year low of $104.93 and a 1 year high of $146.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.41 and a quick ratio of 2.14. The company has a market capitalization of $3.77 billion, a PE ratio of 47.65, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The business has a fifty day simple moving average of $118.78 and a 200 day simple moving average of $123.71.

Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). The business had revenue of $476.00 million during the quarter, compared to the consensus estimate of $464.37 million. Integer had a net margin of 4.61% and a return on equity of 12.27%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. Research analysts expect that Integer will post 6.01 EPS for the current year.

Insider Buying and Selling at Integer

In other Integer news, Director Donald J. Spence sold 14,739 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total value of $1,774,280.82. Following the sale, the director owned 18,781 shares in the company, valued at $2,260,856.78. This trade represents a 43.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin C. Maxwell sold 8,720 shares of Integer stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the transaction, the director owned 22,170 shares in the company, valued at approximately $2,672,815.20. This trade represents a 28.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 362,434 shares of company stock worth $44,577,115 over the last quarter. Corporate insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Integer

A number of hedge funds have recently modified their holdings of ITGR. Raymond James Financial Inc. acquired a new position in shares of Integer during the fourth quarter worth $38,073,000. Vaughan Nelson Investment Management L.P. bought a new position in Integer during the first quarter worth $33,337,000. Capital Research Global Investors raised its stake in Integer by 16.0% during the fourth quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider’s stock worth $186,960,000 after buying an additional 194,895 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Integer during the fourth quarter worth $22,775,000. Finally, Nuveen LLC bought a new position in Integer during the first quarter worth $17,634,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

Integer Company Profile

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.