Integer Holdings Co. (NYSE:ITGR) Sees Large Increase in Short Interest

Integer Holdings Co. (NYSE:ITGR) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 2,320,000 shares, a growth of 7.9% from the October 31st total of 2,150,000 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average trading volume of 272,100 shares, the short-interest ratio is presently 8.5 days.

Integer Trading Up 1.7 %

NYSE ITGR traded up $2.32 on Tuesday, hitting $141.09. 304,775 shares of the company were exchanged, compared to its average volume of 307,405. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.28 and a quick ratio of 2.09. Integer has a twelve month low of $86.42 and a twelve month high of $142.00. The firm has a market capitalization of $4.73 billion, a P/E ratio of 43.55, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The company’s 50 day moving average price is $131.87 and its 200-day moving average price is $124.78.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $431.42 million for the quarter, compared to the consensus estimate of $440.59 million. Integer had a return on equity of 11.63% and a net margin of 6.70%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Analysts predict that Integer will post 5.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ITGR has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Benchmark boosted their price objective on shares of Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial lowered their target price on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company reiterated an “overweight” rating and issued a $160.00 price target on shares of Integer in a research note on Tuesday. Finally, Piper Sandler restated an “overweight” rating and set a $140.00 price objective (up previously from $125.00) on shares of Integer in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Integer currently has an average rating of “Moderate Buy” and an average target price of $142.00.

Hedge Funds Weigh In On Integer

Institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. boosted its stake in Integer by 55.9% during the 3rd quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 80 shares during the period. Huntington National Bank boosted its position in shares of Integer by 8,933.3% in the third quarter. Huntington National Bank now owns 271 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 268 shares during the period. Quest Partners LLC grew its stake in shares of Integer by 3,688.9% in the second quarter. Quest Partners LLC now owns 341 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 332 shares during the last quarter. GAMMA Investing LLC increased its position in Integer by 60.9% during the second quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 142 shares during the period. Finally, Innealta Capital LLC acquired a new position in Integer during the 2nd quarter valued at $110,000. 99.29% of the stock is currently owned by institutional investors.

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.