Integer (ITGR) Downgraded by Zacks Investment Research

Integer (NYSE:ITGR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “Over the last six months Integer Holdings has had an unimpressive performance on the bourses. Additionally, the company expects rental revenue per patient to decline in the future quarters owing to lower reimbursement rates in connection with the nationalization of competitive bidding and continued reimbursement declines. Revenue headwinds remain a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments, and lower net patient additions. However, the company has provided a positive guidance for full-year 2017. The company’s steadfast focus on customer relationship, spotlight on cost reduction, and burgeoning financial performance are the key catalysts in our view. Integer Holdings derives a significant portion of its revenues from Medicare’s service reimbursement programs.”

Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Integer from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. ValuEngine upgraded shares of Integer from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet lowered shares of Integer from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. Royal Bank of Canada reiterated a “neutral” rating on shares of Integer in a research note on Friday, October 27th. Finally, Northcoast Research lowered shares of Integer from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.00.

Shares of Integer (NYSE ITGR) opened at $44.25 on Friday. Integer has a fifty-two week low of $33.90 and a fifty-two week high of $55.20. The company has a debt-to-equity ratio of 1.95, a current ratio of 2.58 and a quick ratio of 1.37. The firm has a market cap of $1,410.89, a price-to-earnings ratio of 70.24, a PEG ratio of 0.97 and a beta of 1.05.

In other Integer news, Director Bill R. Sanford sold 20,605 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $46.00, for a total transaction of $947,830.00. Following the transaction, the director now directly owns 63,606 shares of the company’s stock, valued at approximately $2,925,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gary J. Haire sold 731 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $44.89, for a total transaction of $32,814.59. Following the transaction, the chief financial officer now directly owns 1,911 shares in the company, valued at $85,784.79. The disclosure for this sale can be found here. Insiders have sold a total of 64,286 shares of company stock worth $2,996,350 over the last quarter. 4.80% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. grew its position in Integer by 411.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,034 shares of the medical equipment provider’s stock worth $104,000 after purchasing an additional 1,636 shares during the last quarter. Zions Bancorporation purchased a new position in Integer during the 3rd quarter worth $174,000. Advisor Group Inc. grew its position in Integer by 340.0% during the 4th quarter. Advisor Group Inc. now owns 4,154 shares of the medical equipment provider’s stock worth $188,000 after purchasing an additional 3,210 shares during the last quarter. LS Investment Advisors LLC grew its position in Integer by 298.1% during the 4th quarter. LS Investment Advisors LLC now owns 4,339 shares of the medical equipment provider’s stock worth $197,000 after purchasing an additional 3,249 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Integer during the 4th quarter worth $204,000. 95.57% of the stock is currently owned by institutional investors.

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About Integer

Greatbatch, Inc is a developer and manufacturer of medical devices and components. The Company operates through two segments: Greatbatch Medical and QiG Group (QiG). Greatbatch Medical designs and manufactures products where the Company either owns the intellectual property or has unique manufacturing and assembly expertise.

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