Integer Holdings Co. (NYSE:ITGR – Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,370,000 shares, a drop of 5.2% from the June 30th total of 2,500,000 shares. Currently, 7.4% of the shares of the stock are sold short. Based on an average trading volume of 231,800 shares, the days-to-cover ratio is currently 10.2 days.
Insider Activity
In related news, Director Jean M. Hobby sold 3,625 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $83.85, for a total transaction of $303,956.25. Following the transaction, the director now owns 9,126 shares of the company’s stock, valued at approximately $765,215.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.84% of the company’s stock.
Institutional Trading of Integer
A number of institutional investors and hedge funds have recently bought and sold shares of ITGR. Covestor Ltd increased its stake in Integer by 420.6% during the 1st quarter. Covestor Ltd now owns 328 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 265 shares in the last quarter. Parallel Advisors LLC bought a new stake in Integer during the 1st quarter valued at about $29,000. Strs Ohio bought a new stake in Integer during the 1st quarter valued at about $46,000. US Asset Management LLC bought a new stake in Integer during the 4th quarter valued at about $51,000. Finally, State of Wyoming increased its stake in Integer by 129.5% during the 4th quarter. State of Wyoming now owns 840 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 474 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.
Integer Trading Up 0.2 %
Shares of NYSE ITGR opened at $92.67 on Wednesday. Integer has a 1 year low of $50.05 and a 1 year high of $96.17. The stock has a market cap of $3.09 billion, a P/E ratio of 43.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. The firm has a 50-day moving average of $85.26 and a 200 day moving average of $79.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.08 and a quick ratio of 1.94.
Integer (NYSE:ITGR – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.15. Integer had a net margin of 4.77% and a return on equity of 9.67%. The company had revenue of $400.04 million during the quarter, compared to analysts’ expectations of $367.05 million. As a group, sell-side analysts expect that Integer will post 4.35 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ITGR has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Integer from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. TheStreet raised shares of Integer from a “c+” rating to a “b” rating in a report on Thursday, July 27th. KeyCorp raised their target price on shares of Integer from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. StockNews.com started coverage on shares of Integer in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Citigroup started coverage on shares of Integer in a research report on Thursday, May 11th. They issued a “neutral” rating and a $88.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.83.
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 Medical and Non-Medical segments. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures.