Integer Holdings has beaten consensus EPS estimates in 3 of the last 4 quarters, but the stock now sits near the top of its near-term expected range with only 2.2% upside to resistance and a reward-to-risk ratio of approximately 0.4-to-1. Weak price momentum, an elevated short interest of 16%, and the absence of a competitive moat combine to make the current setup unattractive for new capital.
Thesis pillars
- Earnings Beat Discipline→Stable
- Deteriorating Price Momentum↑Improving
- Unfavorable Reward Risk Geometry→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 23, 2026
Integer Holdings Corporation (ITGR) Stock Analysis
Healthcare · Medical Devices
Wait for pullback to $126.39. Price sits above the model's entry target of $126.39; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: United States (53.0%); Concentration risk — Supplier: single supplier raw materials.
Integer Holdings Corporation is a CDMO serving Cardio & Vascular, Cardiac Rhythm Management & Neuromodulation, and Other Markets for large OEM medical device manufacturers globally. Revenue comes from contract manufacturing under supply agreements; Abbott Laboratories, Boston... Read more
Wait for pullback to $126.39. Price sits above the model's entry target of $126.39; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: United States (53.0%); Concentration risk — Supplier: single supplier raw materials. Chart setup: No clear chart pattern; technical signals are mixed. Earnings today. Wait until post-earnings. Score 4.3/10, moderate confidence.
Passes 3/7 gates (clean insider activity, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio and earnings proximity 0d<=7d. Suitability: aggressive.
About Integer Holdings Corporation
About Integer Holdings Corporation
Integer Holdings Corporation held $675 million in firm backlog at December 31, 2025, with Abbott Laboratories, Boston Scientific, and Medtronic each exceeding 10% of 2025 total sales and together representing 49% of revenues. A pure-play CDMO across Cardio & Vascular, Cardiac Rhythm Management & Neuromodulation, and Other Markets, Integer manufactures in seven countries and held 731 patents at year-end.
Integer earns revenue through long-term supply agreements with large OEM medical device manufacturers, producing components, subassemblies, and finished devices for procedures spanning interventional cardiology, structural heart, electrophysiology, neuromodulation, and spinal cord stimulation, among others. Contracts typically specify minimum order quantities but not always minimum purchase levels, meaning OEM inventory management decisions—including vertical integration or alternate supply arrangements—can produce material revenue variability. The company's raw material base includes platinum, titanium, nitinol, lithium, and iridium, some obtained from a single supplier; disruptions or price increases not recoverable through customer pricing could weigh on margins. During 2025, Integer completed three tuck-in acquisitions—Biocoat Incorporated (December), VSi Parylene (February), and Precision Coating LLC (January)—adding UV-cure hydrophilic, parylene, and fluoropolymer coating platforms.
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Integer's primary operating risk is customer concentration: supply agreements with its largest OEM partners may lack minimum purchase commitments, and the 10-K notes that reductions in customer demand have negatively impacted results in prior fiscal years and may recur if significant customers reduce orders. Those partners may also have vertical integration or alternate supply plans they do not share with Integer. In March 2026, Integer disclosed via Form 8-K a Cooperation Agreement with activist investor Irenic Capital Management, appointing two new board members and initiating a strategic review that could affect the company's operating strategy.
See also: Healthcare · Medical Devices
From Integer Holdings Corporation's most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-10-28Recent Developments — Integer Holdings Corporation
Latest news
- NEWS Here's why you should retain Integer Holdings stock in your portfolio - MSN — MSN positive
- NEWS What To Expect From Integer Holdings’s (ITGR) Q1 Earnings - Yahoo Finance — Yahoo Finance neutral
- NEWS What To Expect From Integer Holdings’s (ITGR) Q1 Earnings - StockStory — StockStory neutral
- NEWS What To Expect From Integer Holdings’s (ITGR) Q1 Earnings - MSN — MSN neutral
- NEWS What To Expect From Integer Holdings’s (ITGR) Q1 Earnings - FinancialContent — FinancialContent neutral
Generated 2026-10-28T12:09:23Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomerAbbott Laboratories, Boston Scientific and Medtronic49%10-K Item 1: 'three of our customers, Abbott Laboratories, Boston Scientific and Medtronic were each in excess of 10% of total sales and collectively accounted for 49% of our total sales.'
- HIGHGeographicUnited States53%10-K Item 1: 'approximately 53% of our products sold were shipped to locations in the United States'
- HIGHSuppliersingle supplier raw materials10-K Item 1A: 'we obtain some raw materials from a single supplier'
Material Events(8-K, last 90d)
- 2026-05-22Item 5.02LOWOn May 18, 2026 the Compensation Committee approved amendments to CEO Payman Khales' employment agreement providing enhanced change-of-control vesting for performance equity awards, in connection with a previously announced strategic review. No officer departure.SEC filing →
- 2026-03-12Item 1.01MEDIUMInteger entered a Cooperation Agreement with Irenic Capital Management LP on March 9, 2026, appointing James F. Flanagan and Aaron Kapito to the Board; two unnamed incumbent directors agreed not to stand for re-election at the 2026 Annual Meeting.SEC filing →
- 2026-03-12Item 5.02LOWJames F. Flanagan (Company Director) and Aaron Kapito (Investor Designated Director per Irenic Capital) appointed to the Board on March 9, 2026 per Cooperation Agreement; two unnamed incumbent directors to step down at 2026 Annual Meeting.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
3 floor-breakers
Revenue shrinking — -2.6% YoY. Growth thesis broken unless recovery story develops.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $126.39. Price sits above the model's entry target of $126.39; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: United States (53.0%); Concentration risk — Supplier: single supplier raw materials. Chart setup: No clear chart pattern; technical signals are mixed. Earnings today. Wait until post-earnings. Analyst target $105.97 reached (−16.4%), stop $126.07 (−0.5%), A.R:R -1.1:1. Score 4.3/10, moderate confidence.
Analyst target $105.97 reached (−16.4% from $126.74); no take-profit level is published. Analyst target $105.97 reached (−16.4%), stop $126.07 (−0.5%), A.R:R -1.1:1. Stop-loss: $126.07.
Concentration risk — Geographic: United States (53.0%); Concentration risk — Supplier: single supplier raw materials; Analyst target reached - limited upside remaining.
Integer Holdings Corporation trades at a P/E of 34.6 (forward 18.5). TrendMatrix value score: 4.7/10. Verdict: Buy (Wait for Entry).
15 analysts cover ITGR with a consensus score of 2.7/5. Average price target: $122.
What does Integer Holdings Corporation do?Integer Holdings Corporation is a CDMO serving Cardio & Vascular, Cardiac Rhythm Management & Neuromodulation, and...
Integer Holdings Corporation is a CDMO serving Cardio & Vascular, Cardiac Rhythm Management & Neuromodulation, and Other Markets for large OEM medical device manufacturers globally. Revenue comes from contract manufacturing under supply agreements; Abbott Laboratories, Boston Scientific, and Medtronic collectively represented 49% of 2025 sales, with firm backlog of approximately $675 million at December 31, 2025.