Integer (NYSE:ITGR) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Integer (NYSE:ITGR) from a neutral rating to a buy rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $135.00 target price on the medical equipment provider’s stock, up from their prior target price of $105.00.

Other equities analysts have also recently issued research reports about the company. CL King initiated coverage on Integer in a report on Thursday, March 14th. They issued a buy rating and a $137.00 price target for the company. Benchmark boosted their price objective on Integer from $105.00 to $130.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Finally, KeyCorp boosted their price objective on Integer from $123.00 to $139.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Integer has an average rating of Moderate Buy and an average target price of $120.50.

Integer Stock Performance

Shares of ITGR opened at $117.79 on Monday. The stock has a 50-day moving average of $111.60 and a two-hundred day moving average of $98.22. Integer has a one year low of $69.40 and a one year high of $121.53. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.71 and a current ratio of 2.80. The stock has a market cap of $3.95 billion, a P/E ratio of 43.79, a P/E/G ratio of 1.65 and a beta of 1.10.

Integer (NYSE:ITGR) last issued its quarterly earnings data on Thursday, February 15th. The medical equipment provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.05. The business had revenue of $413.15 million during the quarter, compared to analysts’ expectations of $409.04 million. Integer had a return on equity of 10.80% and a net margin of 5.68%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 EPS. As a group, research analysts predict that Integer will post 5.3 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Integer by 497.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 536,343 shares of the medical equipment provider’s stock valued at $42,065,000 after acquiring an additional 446,508 shares in the last quarter. Norges Bank acquired a new stake in shares of Integer in the fourth quarter valued at $19,491,000. Public Employees Retirement Association of Colorado raised its stake in shares of Integer by 3,260.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 285,439 shares of the medical equipment provider’s stock valued at $28,281,000 after acquiring an additional 276,944 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Integer by 27.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,154,833 shares of the medical equipment provider’s stock valued at $79,060,000 after acquiring an additional 251,207 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Integer by 1,226.1% in the first quarter. Rockefeller Capital Management L.P. now owns 223,876 shares of the medical equipment provider’s stock valued at $17,350,000 after acquiring an additional 206,994 shares in 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.