Integer (ITGR) Lowered to “Hold” at Zacks Investment Research

Integer (NYSE:ITGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, January 23rd.

According to Zacks, “Over the last year Integer Holdings outperformed the broader industry in terms of price performance. The company has provided a positive guidance for full-year 2017. The company’s steadfast focus on customer relationship, spotlight on cost reduction, and burgeoning financial performance are the key catalysts in our view. Integer Holdings derives a significant portion of its revenues from Medicare’s service reimbursement programs. On the flipside, the company expects rental revenue per patient to decline in the future quarters owing to lower reimbursement rates in connection with the nationalization of competitive bidding and continued reimbursement declines. Revenue headwinds remain a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments, and lower net patient additions.”

Several other equities research analysts have also issued reports on the company. BidaskClub lowered Integer from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. Northcoast Research lowered Integer from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. They noted that the move was a valuation call. TheStreet downgraded Integer from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. ValuEngine upgraded Integer from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Royal Bank of Canada reiterated a “neutral” rating on shares of Integer in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Integer (ITGR) traded down $0.55 during midday trading on Tuesday, reaching $43.75. The company had a trading volume of 178,098 shares, compared to its average volume of 148,303. Integer has a twelve month low of $33.90 and a twelve month high of $55.20. The stock has a market cap of $1,412.47, a price-to-earnings ratio of 70.32, a P/E/G ratio of 0.94 and a beta of 1.05. The company has a debt-to-equity ratio of 1.95, a current ratio of 2.58 and a quick ratio of 1.37.

In other news, CFO Gary J. Haire sold 731 shares of Integer stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $44.89, for a total transaction of $32,814.59. Following the completion of the sale, the chief financial officer now owns 1,911 shares in the company, valued at approximately $85,784.79. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Declan Smyth sold 1,112 shares of Integer stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $44.89, for a total value of $49,917.68. Following the sale, the insider now owns 11,656 shares of the company’s stock, valued at approximately $523,237.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,876 shares of company stock valued at $3,259,136. 4.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its holdings in shares of Integer by 411.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,034 shares of the medical equipment provider’s stock valued at $104,000 after buying an additional 1,636 shares in the last quarter. Zions Bancorporation purchased a new position in shares of Integer during the 3rd quarter valued at about $174,000. Advisor Group Inc. raised its holdings in shares of Integer by 340.0% during the 4th quarter. Advisor Group Inc. now owns 4,154 shares of the medical equipment provider’s stock valued at $188,000 after buying an additional 3,210 shares in the last quarter. LS Investment Advisors LLC raised its holdings in shares of Integer by 298.1% during the 4th quarter. LS Investment Advisors LLC now owns 4,339 shares of the medical equipment provider’s stock valued at $197,000 after buying an additional 3,249 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Integer during the 4th quarter valued at about $204,000. 95.57% of the stock is currently owned by institutional investors.

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About Integer

Greatbatch, Inc is a developer and manufacturer of medical devices and components. The Company operates through two segments: Greatbatch Medical and QiG Group (QiG). Greatbatch Medical designs and manufactures products where the Company either owns the intellectual property or has unique manufacturing and assembly expertise.

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