Integer Holdings Co. (NYSE:ITGR) Short Interest Up 19.8% in March

Integer Holdings Co. (NYSE:ITGR) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,660,000 shares, a growth of 19.8% from the February 28th total of 2,220,000 shares. Based on an average daily volume of 370,400 shares, the short-interest ratio is presently 7.2 days. Currently, 8.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mather Group LLC. raised its position in Integer by 304.3% during the 4th quarter. Mather Group LLC. now owns 190 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Integer in the 4th quarter worth approximately $27,000. R Squared Ltd purchased a new stake in Integer during the fourth quarter valued at approximately $44,000. Sterling Capital Management LLC boosted its position in shares of Integer by 472.9% in the 4th quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 279 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Integer by 98.4% in the fourth quarter. Versant Capital Management Inc now owns 369 shares of the medical equipment provider’s stock worth $49,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Integer Stock Performance

Shares of NYSE ITGR traded up $2.66 during trading on Wednesday, hitting $121.22. The company had a trading volume of 390,720 shares, compared to its average volume of 329,356. The firm has a market capitalization of $4.08 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.09 and a current ratio of 2.95. The stock has a 50 day simple moving average of $129.52 and a 200 day simple moving average of $131.97. Integer has a 12 month low of $107.11 and a 12 month high of $146.36.

Integer (NYSE:ITGR) last posted its earnings results on Thursday, February 20th. The medical equipment provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The firm had revenue of $449.50 million for the quarter, compared to the consensus estimate of $446.28 million. Integer had a net margin of 6.92% and a return on equity of 11.65%. As a group, analysts anticipate that Integer will post 6.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITGR. KeyCorp lifted their price objective on shares of Integer from $144.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $160.00 target price on shares of Integer in a research note on Tuesday, December 3rd. Truist Financial increased their price target on shares of Integer from $147.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Benchmark upped their target price on Integer from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Oppenheimer lowered shares of Integer from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Integer currently has a consensus rating of “Moderate Buy” and an average target price of $148.56.

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.