Integer (ITGR) Upgraded to Buy by Zacks Investment Research

Integer (NYSE:ITGR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $51.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.33% from the company’s current price.

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.”

A number of other equities analysts have also commented on the stock. TheStreet lowered shares of Integer from a “b-” rating to a “c+” rating in a report on Thursday, November 9th. BidaskClub lowered shares of Integer from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Royal Bank of Canada reiterated a “neutral” rating on shares of Integer in a report on Friday, October 27th. Northcoast Research downgraded shares of Integer from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Finally, KeyCorp reissued an “overweight” rating and set a $62.00 target price (up previously from $51.00) on shares of Integer in a research note on Monday, September 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.00.

Shares of Integer (NYSE:ITGR) traded down $0.20 during trading hours on Wednesday, hitting $45.40. 21,698 shares of the stock were exchanged, compared to its average volume of 185,647. The firm has a market capitalization of $1,450.00, a price-to-earnings ratio of 70.94, a PEG ratio of 1.17 and a beta of 1.07. The company has a current ratio of 2.58, a quick ratio of 1.37 and a debt-to-equity ratio of 1.95. Integer has a 52 week low of $29.00 and a 52 week high of $55.20.

Integer (NYSE:ITGR) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $363.31 million for the quarter, compared to analyst estimates of $354.83 million. Integer had a net margin of 1.42% and a return on equity of 11.22%. Integer’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. research analysts anticipate that Integer will post 2.62 earnings per share for the current fiscal year.

In other Integer news, VP Thomas J. Mazza sold 23,123 shares of Integer stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $46.16, for a total value of $1,067,357.68. Following the completion of the sale, the vice president now directly owns 26,123 shares of the company’s stock, valued at $1,205,837.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bill R. Sanford sold 20,605 shares of Integer stock in a transaction on Monday, December 11th. The shares were sold at an average price of $46.00, for a total transaction of $947,830.00. Following the completion of the sale, the director now directly owns 63,606 shares of the company’s stock, valued at $2,925,876. The disclosure for this sale can be found here. Insiders have sold 86,561 shares of company stock valued at $4,062,886 in the last three months. 4.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ITGR. AXA acquired a new position in shares of Integer during the third quarter valued at about $5,749,000. GSA Capital Partners LLP grew its holdings in shares of Integer by 83.8% during the third quarter. GSA Capital Partners LLP now owns 42,250 shares of the medical equipment provider’s stock valued at $2,161,000 after buying an additional 19,260 shares during the last quarter. Algert Global LLC grew its holdings in shares of Integer by 22.2% during the third quarter. Algert Global LLC now owns 50,618 shares of the medical equipment provider’s stock valued at $2,589,000 after buying an additional 9,181 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Integer by 13.5% during the third quarter. California Public Employees Retirement System now owns 105,191 shares of the medical equipment provider’s stock valued at $5,381,000 after buying an additional 12,491 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Integer by 83.8% during the third quarter. Point72 Asset Management L.P. now owns 367,600 shares of the medical equipment provider’s stock valued at $18,803,000 after buying an additional 167,600 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other 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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