Integer Holdings Corp (ITGR) Short Interest Update

Integer Holdings Corp (NYSE:ITGR) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 825,306 shares, a growth of 38.3% from the March 29th total of 596,847 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 280,142 shares, the short-interest ratio is currently 2.9 days.

ITGR has been the topic of several analyst reports. Royal Bank of Canada upped their target price on shares of Integer from $84.00 to $92.00 and gave the stock a “sector perform” rating in a research note on Monday, February 25th. Zacks Investment Research raised shares of Integer from a “hold” rating to a “strong-buy” rating and set a $101.00 price objective for the company in a report on Tuesday, February 26th. Finally, ValuEngine cut shares of Integer from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $89.40.

ITGR stock traded down $2.16 during midday trading on Friday, reaching $70.84. 179,100 shares of the company’s stock traded hands, compared to its average volume of 248,582. The stock has a market cap of $2.38 billion, a P/E ratio of 18.64 and a beta of 0.91. Integer has a 52-week low of $62.80 and a 52-week high of $92.61. The company has a current ratio of 2.55, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.20. Integer had a net margin of 14.67% and a return on equity of 13.37%. The firm had revenue of $314.70 million during the quarter, compared to analyst estimates of $302.29 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. Integer’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that Integer will post 4.3 earnings per share for the current year.

In other news, Director Donald J. Spence sold 50,559 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $85.41, for a total value of $4,318,244.19. Following the transaction, the director now owns 41,285 shares in the company, valued at $3,526,151.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Anthony W. Borowicz sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $85.92, for a total transaction of $214,800.00. Following the completion of the transaction, the senior vice president now owns 18,124 shares in the company, valued at approximately $1,557,214.08. The disclosure for this sale can be found here. Insiders have sold 62,147 shares of company stock worth $5,358,962 in the last three months. 2.24% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Integer by 0.6% during the fourth quarter. BlackRock Inc. now owns 4,795,926 shares of the medical equipment provider’s stock worth $365,737,000 after acquiring an additional 27,719 shares during the last quarter. Vanguard Group Inc. lifted its position in Integer by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,278,299 shares of the medical equipment provider’s stock valued at $271,935,000 after purchasing an additional 131,450 shares during the last quarter. Vanguard Group Inc lifted its position in Integer by 4.2% during the third quarter. Vanguard Group Inc now owns 3,278,299 shares of the medical equipment provider’s stock valued at $271,935,000 after purchasing an additional 131,450 shares during the last quarter. Fisher Asset Management LLC lifted its position in Integer by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 1,202,218 shares of the medical equipment provider’s stock valued at $91,681,000 after purchasing an additional 9,362 shares during the last quarter. Finally, FMR LLC lifted its position in Integer by 118.9% during the first quarter. FMR LLC now owns 950,210 shares of the medical equipment provider’s stock valued at $71,664,000 after purchasing an additional 516,080 shares during the last quarter. Hedge funds and other institutional investors own 93.84% of the company’s stock.

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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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