Citigroup Cuts Integer (NYSE:ITGR) Price Target to $69.00

Integer (NYSE:ITGR) had its target price lowered by Citigroup from $77.00 to $69.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

Several other research analysts have also issued reports on ITGR. Argus lowered shares of Integer from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. Piper Sandler reduced their target price on shares of Integer from $155.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Benchmark reaffirmed a “hold” rating on shares of Integer in a research note on Friday, October 24th. Wells Fargo & Company reissued an “equal weight” rating and set a $80.00 price objective (down previously from $132.00) on shares of Integer in a research note on Friday, October 24th. Finally, Wall Street Zen lowered shares of Integer from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.75.

Integer Stock Down 0.5%

Shares of NYSE:ITGR opened at $68.24 on Monday. The firm has a market cap of $2.39 billion, a P/E ratio of 28.55, a P/E/G ratio of 0.60 and a beta of 0.95. The company has a quick ratio of 2.45, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. Integer has a 12 month low of $62.00 and a 12 month high of $146.36. The company’s 50-day moving average price is $97.07 and its two-hundred day moving average price is $109.68.

Integer (NYSE:ITGR) last issued its earnings results on Thursday, October 23rd. The medical equipment provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.11. Integer had a net margin of 4.75% and a return on equity of 12.84%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. As a group, research analysts forecast that Integer will post 6.01 EPS for the current fiscal year.

Integer declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 4th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Payman Khales purchased 3,127 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $64.94 per share, with a total value of $203,067.38. Following the completion of the purchase, the chief executive officer owned 22,865 shares in the company, valued at $1,484,853.10. This represents a 15.84% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in Integer in the third quarter valued at approximately $26,000. SVB Wealth LLC bought a new position in Integer in the first quarter valued at approximately $35,000. Global Retirement Partners LLC raised its holdings in shares of Integer by 293.8% in the third quarter. Global Retirement Partners LLC now owns 319 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 238 shares during the last quarter. CWM LLC raised its holdings in shares of Integer by 46.1% in the second quarter. CWM LLC now owns 355 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 112 shares during the last quarter. Finally, MAI Capital Management raised its holdings in shares of Integer by 220.9% in the second quarter. MAI Capital Management now owns 369 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.

Integer Company Profile

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, non-vascular, urology, and gastroenterology procedures.