Integer (NYSE:ITGR) to Buyback $200.00 million in Stock

Integer (NYSE:ITGR) announced that its Board of Directors has approved a share buyback plan on Tuesday, November 4th, RTT News reports. The company plans to repurchase $200.00 million in shares. This repurchase authorization permits the medical equipment provider to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $80.00 price objective (down previously from $132.00) on shares of Integer in a research note on Friday, October 24th. Wall Street Zen downgraded shares of Integer from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Bank of America downgraded shares of Integer from a “buy” rating to a “neutral” rating and set a $87.00 price target for the company. in a research report on Friday, October 24th. Raymond James Financial reissued an “outperform” rating and issued a $95.00 price target (down previously from $143.00) on shares of Integer in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Integer in a research report on Friday. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.75.

Integer Stock Up 2.8%

ITGR traded up $1.84 during mid-day trading on Tuesday, reaching $68.77. 1,629,871 shares of the stock were exchanged, compared to its average volume of 599,505. 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 stock has a market capitalization of $2.41 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 0.60 and a beta of 0.97. The company has a 50 day moving average price of $97.87 and a two-hundred day moving average price of $109.97. Integer has a 1 year low of $62.00 and a 1 year high of $146.36.

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 analysts’ consensus estimates 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 quarter in the prior year, the business posted $1.43 EPS. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. As a group, research analysts anticipate that Integer will post 6.01 EPS for the current year.

Insider Buying and Selling at Integer

In related news, CEO Payman Khales purchased 3,127 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were bought at an average cost of $64.94 per share, with a total value of $203,067.38. Following the acquisition, the chief executive officer owned 22,865 shares of the company’s stock, valued at $1,484,853.10. This represents a 15.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.16% of the company’s stock.

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.