Integer Holdings Co. (NYSE:ITGR) Sees Significant Drop in Short Interest

Integer Holdings Co. (NYSE:ITGR) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,130,000 shares, a decline of 6.6% from the January 15th total of 2,280,000 shares. Based on an average daily volume of 212,300 shares, the short-interest ratio is currently 10.0 days. Approximately 6.6% of the company’s shares are short sold.

Integer Stock Down 0.0 %

ITGR opened at $140.95 on Wednesday. Integer has a fifty-two week low of $97.49 and a fifty-two week high of $146.36. The company’s 50-day moving average is $137.90 and its 200 day moving average is $132.00. The firm has a market capitalization of $4.73 billion, a P/E ratio of 43.50, a PEG ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.28 and a quick ratio of 2.09.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price (up previously from $125.00) on shares of Integer in a research report on Friday, October 25th. Truist Financial upped their target price on shares of Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. KeyCorp boosted their price objective on shares of Integer from $144.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company restated an “overweight” rating and issued a $160.00 price target on shares of Integer in a research note on Tuesday, December 3rd. Finally, Citigroup raised their target price on shares of Integer from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. boosted its stake in Integer by 304.3% during the fourth quarter. Mather Group LLC. now owns 190 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 143 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Integer in the fourth quarter valued at about $27,000. Huntington National Bank lifted its holdings in Integer by 8,933.3% in the 3rd quarter. Huntington National Bank now owns 271 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 268 shares during the period. R Squared Ltd purchased a new position in Integer during the 4th quarter valued at $44,000. Finally, Sterling Capital Management LLC raised its stake in Integer by 472.9% in the fourth quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 279 shares in the last quarter. Institutional investors own 99.29% 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.