Integer (ITGR) Stock Rating Upgraded by Zacks Investment Research

Integer (NYSE:ITGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $65.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.84% 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.”

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Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Integer from a “c+” rating to a “b” rating in a research report on Monday, March 12th. ValuEngine upgraded shares of Integer from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.67.



ITGR opened at $56.60 on Tuesday. The firm has a market cap of $1,835.88, a PE ratio of 20.14, a PEG ratio of 1.16 and a beta of 0.86. The company has a quick ratio of 1.46, a current ratio of 2.55 and a debt-to-equity ratio of 1.77. Integer has a one year low of $33.90 and a one year high of $58.54.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.17. Integer had a net margin of 4.56% and a return on equity of 11.13%. The firm had revenue of $390.50 million during the quarter, compared to analyst estimates of $358.42 million. During the same period in the previous year, the business earned $0.87 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. sell-side analysts forecast that Integer will post 3.3 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ITGR. Schwab Charles Investment Management Inc. lifted its stake in Integer by 16.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 149,670 shares of the medical equipment provider’s stock worth $7,656,000 after purchasing an additional 20,878 shares during the last quarter. California Public Employees Retirement System lifted its stake in Integer by 13.5% in the third quarter. California Public Employees Retirement System now owns 105,191 shares of the medical equipment provider’s stock worth $5,381,000 after purchasing an additional 12,491 shares during the last quarter. AXA bought a new stake in Integer in the third quarter worth $5,749,000. Convergence Investment Partners LLC lifted its stake in Integer by 11.1% in the fourth quarter. Convergence Investment Partners LLC now owns 34,935 shares of the medical equipment provider’s stock worth $1,583,000 after purchasing an additional 3,490 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Integer by 52.6% in the fourth quarter. Bank of Montreal Can now owns 66,839 shares of the medical equipment provider’s stock worth $3,028,000 after purchasing an additional 23,026 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

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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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