Insider Buying: Integer (NYSE:ITGR) EVP Buys $74,984.04 in Stock

Integer Holdings Corporation (NYSE:ITGR) EVP Diron Smith bought 1,116 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $67.19 per share, for a total transaction of $74,984.04. Following the completion of the transaction, the executive vice president owned 7,698 shares of the company’s stock, valued at approximately $517,228.62. The trade was a 16.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Integer Trading Down 0.5%

Shares of ITGR opened at $69.48 on Thursday. Integer Holdings Corporation has a one year low of $62.00 and a one year high of $146.36. The stock has a 50-day moving average price of $93.23 and a 200 day moving average price of $107.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 3.71. The company has a market capitalization of $2.43 billion, a P/E ratio of 29.07, a P/E/G ratio of 0.60 and a beta of 0.95.

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

Integer announced that its board has initiated a stock repurchase 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 purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Benchmark reissued a “hold” rating on shares of Integer in a report on Friday, October 24th. Wall Street Zen downgraded Integer from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Citigroup cut their price objective on Integer from $77.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $80.00 target price (down previously from $132.00) on shares of Integer in a research report on Friday, October 24th. Finally, Bank of America downgraded Integer from a “buy” rating to a “neutral” rating and set a $87.00 price target for the company. in a report on Friday, October 24th. Four 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 company currently has a consensus rating of “Hold” and an average target price of $96.75.

Institutional Trading of Integer

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gabelli Funds LLC lifted its holdings in shares of Integer by 20.0% in the 3rd quarter. Gabelli Funds LLC now owns 78,000 shares of the medical equipment provider’s stock worth $8,060,000 after purchasing an additional 13,000 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Integer by 10.5% in the third quarter. Gamco Investors INC. ET AL now owns 20,860 shares of the medical equipment provider’s stock valued at $2,155,000 after buying an additional 1,979 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Integer by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,410,480 shares of the medical equipment provider’s stock valued at $145,738,000 after acquiring an additional 65,865 shares during the period. William Blair Investment Management LLC bought a new position in shares of Integer during the third quarter worth about $28,459,000. Finally, Banco Santander S.A. lifted its position in Integer by 3.8% in the 3rd quarter. Banco Santander S.A. now owns 107,893 shares of the medical equipment provider’s stock valued at $11,149,000 after purchasing an additional 3,983 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Integer

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.