Integer’s (ITGR) Buy Rating Reiterated at Northcoast Research

Northcoast Research reissued their buy rating on shares of Integer (NYSE:ITGR) in a research report report published on Friday, Zacks.com reports. Northcoast Research also issued estimates for Integer’s Q3 2019 earnings at $1.07 EPS, Q4 2019 earnings at $1.14 EPS, FY2019 earnings at $4.43 EPS, Q2 2020 earnings at $1.35 EPS, Q3 2020 earnings at $1.28 EPS, Q4 2020 earnings at $1.29 EPS and FY2020 earnings at $4.97 EPS.

A number of other analysts have also weighed in on ITGR. Zacks Investment Research lowered shares of Integer from a strong-buy rating to a hold rating in a research note on Wednesday, April 24th. Argus reduced their price target on shares of Integer from $90.00 to $4.29 and set an average rating for the company in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Integer from a hold rating to a sell rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $72.57.

Shares of NYSE:ITGR opened at $84.27 on Friday. The stock has a 50 day moving average of $82.93. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 22.18 and a beta of 0.96. Integer has a twelve month low of $67.72 and a twelve month high of $92.61. The company has a current ratio of 2.42, a quick ratio of 1.49 and a debt-to-equity ratio of 0.78.

Integer (NYSE:ITGR) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.17. The company had revenue of $314.20 million during the quarter, compared to analyst estimates of $318.50 million. Integer had a net margin of 15.73% and a return on equity of 16.38%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 EPS. Equities analysts forecast that Integer will post 4.4 earnings per share for the current fiscal year.

In other Integer news, Director James F. Hinrichs bought 3,750 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $68.47 per share, for a total transaction of $256,762.50. Following the acquisition, the director now directly owns 6,549 shares of the company’s stock, valued at $448,410.03. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.24% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC increased its stake in Integer by 195.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 103,377 shares of the medical equipment provider’s stock valued at $8,675,000 after buying an additional 68,390 shares during the period. Hillsdale Investment Management Inc. increased its stake in Integer by 3.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 33,480 shares of the medical equipment provider’s stock valued at $2,810,000 after buying an additional 1,200 shares during the period. Swiss National Bank increased its stake in Integer by 13.9% in the 2nd quarter. Swiss National Bank now owns 60,500 shares of the medical equipment provider’s stock valued at $5,077,000 after buying an additional 7,400 shares during the period. Comerica Bank increased its stake in Integer by 32.2% in the 2nd quarter. Comerica Bank now owns 39,576 shares of the medical equipment provider’s stock valued at $3,194,000 after buying an additional 9,638 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Integer by 11.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,670 shares of the medical equipment provider’s stock valued at $560,000 after buying an additional 708 shares during the period. Institutional investors and hedge funds own 96.34% of the company’s stock.

Integer Company Profile

Integer Holdings Corporation operates as a medical device outsource manufacturer worldwide. It operates in two segments, Medical and Non-Medical. The company offers products for vascular, cardiac surgery, and structural heart diseases; peripheral vascular, neurovascular, urology, and oncology products; and electrophysiology, infusion therapy, and hemodialysis products.

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