Integer (NYSE:ITGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $65.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.74% from the stock’s current price.
According to Zacks, “Integer Holdings' strong performance in its Medical and Non-Medical units holds promise for long-term growth. Of the other major positives, the company provided a positive guidance for full-year 2018. The company’s steadfast focus on customer relationship, focus on cost reduction and burgeoning financial performance are key catalysts. Integer Holdings derives a significant portion of its revenues from Medicare’s service reimbursement programs. However, Cardiac & Neuromodulation remained flat year over year. Integer Holdings’ Cardiac Rhythm Management unit has been sluggish. Also, revenue headwinds are a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments and lower net patient additions. Owing to continued reimbursement declines, the company expects rental revenue per patient to fall in the upcoming quarters. The company underperformed its industry in the last six months.”
Several other equities analysts have also recently issued reports on the company. TheStreet raised Integer from a “c+” rating to a “b” rating in a research report on Monday, March 12th. ValuEngine raised Integer from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $55.67.
ITGR stock traded down $0.55 during midday trading on Tuesday, hitting $57.15. The company’s stock had a trading volume of 41,872 shares, compared to its average volume of 195,029. The stock has a market capitalization of $1,803.98, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.14 and a beta of 0.86. Integer has a 12 month low of $33.90 and a 12 month high of $58.54. The company has a current ratio of 2.55, a quick ratio of 1.46 and a debt-to-equity ratio of 1.77.
Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.17. The business had revenue of $390.50 million for the quarter, compared to analysts’ expectations of $358.42 million. Integer had a return on equity of 11.13% and a net margin of 4.56%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. research analysts predict that Integer will post 3.3 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio lifted its holdings in shares of Integer by 5.3% during the 4th quarter. Strs Ohio now owns 21,900 shares of the medical equipment provider’s stock valued at $992,000 after buying an additional 1,100 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Integer by 22.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 12,930 shares of the medical equipment provider’s stock valued at $585,000 after buying an additional 2,350 shares during the period. Swiss National Bank lifted its holdings in shares of Integer by 5.5% during the 4th quarter. Swiss National Bank now owns 49,700 shares of the medical equipment provider’s stock valued at $2,251,000 after buying an additional 2,600 shares during the period. Advisor Group Inc. lifted 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 during the period. Finally, LS Investment Advisors LLC lifted 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 during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.
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Integer Company Profile
Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates through two segments, Medical and Non-Medical. The company offers arthroscopic devices and components, such as shaver blades and burrs, ablation probes, and suture anchors; laparoscopic and general surgery products, including trocars, endoscopes and laparoscopes, closure devices, harmonic scalpels, bipolar energy delivery devices, radio frequency probes, thermal tumor ablation devices, and ophthalmic surgery devices; and biopsy and drug delivery products.
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