Integer (NYSE:ITGR) Shares Gap Down – Time to Sell?

Integer Holdings Co. (NYSE:ITGR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $126.53, but opened at $121.28. Integer shares last traded at $124.59, with a volume of 52,255 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ITGR. Benchmark increased their target price on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. KeyCorp boosted their target price on Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Bank of America lifted their price target on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Oppenheimer began coverage on Integer in a report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price (up from $125.00) on shares of Integer in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.75.

Integer Price Performance

The stock has a market capitalization of $4.22 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 1.86 and a beta of 1.08. The firm has a 50-day moving average price of $127.58 and a 200 day moving average price of $120.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.96 and a current ratio of 3.29.

Integer (NYSE:ITGR) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Integer had a net margin of 6.31% and a return on equity of 11.48%. The firm had revenue of $431.42 million during the quarter, compared to analyst estimates of $440.59 million. During the same period in the previous year, the business posted $1.27 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts expect that Integer Holdings Co. will post 5.3 EPS for the current year.

Insider Activity

In related news, Director Jean M. Hobby sold 11,960 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the completion of the sale, the director now directly owns 2,280 shares in the company, valued at $272,824.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Integer

Institutional investors have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. raised its stake in shares of Integer by 55.9% during the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 80 shares during the last quarter. Quest Partners LLC lifted its holdings in Integer by 3,688.9% in the 2nd 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 period. GAMMA Investing LLC grew its position in shares of Integer by 60.9% in the 2nd 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. Headlands Technologies LLC bought a new stake in shares of Integer in the 1st quarter worth approximately $106,000. Finally, Innealta Capital LLC purchased a new position in shares of Integer during the second quarter valued at approximately $110,000. Hedge funds and other institutional investors 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.