Integer (NYSE:ITGR) Releases Earnings Results, Beats Expectations By $0.22 EPS

Integer (NYSE:ITGR) issued its quarterly earnings results on Monday. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.22, FiscalAI reports. The business had revenue of $464.11 million for the quarter, compared to the consensus estimate of $450.67 million. Integer had a return on equity of 12.83% and a net margin of 7.64%.

Integer Stock Down 0.1%

Shares of Integer stock opened at $121.07 on Monday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.89 and a beta of 0.61. The stock has a 50-day simple moving average of $93.88 and a 200-day simple moving average of $88.98. Integer has a 52-week low of $62.00 and a 52-week high of $123.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.75 and a quick ratio of 2.38.

Hedge Funds Weigh In On Integer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITGR. Parkside Financial Bank & Trust increased its stake in shares of Integer by 135.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 464 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Arax Advisory Partners boosted its holdings in Integer by 2,489.5% in the fourth quarter. Arax Advisory Partners now owns 492 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 473 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Integer by 210.5% in the second quarter. EverSource Wealth Advisors LLC now owns 534 shares of the medical equipment provider’s stock worth $66,000 after purchasing an additional 362 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Integer by 861.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 692 shares of the medical equipment provider’s stock worth $85,000 after buying an additional 620 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Integer by 31.8% during the third quarter. Van ECK Associates Corp now owns 1,427 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 344 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.

Analyst Ratings Changes

ITGR has been the subject of a number of research reports. Truist Financial raised their price objective on Integer from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. HC Wainwright restated a “buy” rating on shares of Integer in a report on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Integer in a research report on Thursday, June 18th. Zacks Research upgraded shares of Integer from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, KeyCorp reiterated an “overweight” rating and issued a $104.00 target price on shares of Integer in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

About Integer

Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.

Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.