Street Calls of the Week
Investing.com - Wells Fargo downgraded Integer Holding (NYSE:ITGR), a $2.59 billion medical device manufacturer, from Overweight to Equal Weight on Friday, slashing its price target to $80.00 from $132.00. The stock has declined nearly 21% year-to-date, despite maintaining a 9.6% revenue growth in the last twelve months.
The downgrade follows Integer’s announcement of a depressed 2026 outlook, which revealed revised demand forecasts for two electrophysiology products and one emerging customer neuromodulation product.
According to Wells Fargo, Integer management cited slower-than-expected market adoption of these products, estimating a $65 million year-over-year headwind in 2026, representing a 3% to 4% negative annual impact.
The company has confirmed that the revised outlook does not stem from losing the products, losing manufacturing share, customer insourcing, or products being pulled from the market. Integer stated that all affected products remain in the market and are expected to continue in 2026.
Wells Fargo noted that the downgrade reflects limited visibility into the specific products affected and questioned why the demand outlook shifted so drastically when manufacturers have not flagged any issues, adding that investors will likely wait for improved visibility before re-rating the stock.
In other recent news, Integer Holdings Corporation reported its third-quarter 2025 earnings, exceeding market expectations. The company achieved an adjusted earnings per share (EPS) of $1.79, which was higher than the anticipated $1.68. Additionally, Integer Holdings recorded revenue of $468 million, slightly surpassing the forecasted $466.45 million. Despite these favorable results, concerns about future guidance and unexpected challenges in their electrophysiology and neuromodulation product lines have emerged. These developments have caught the attention of investors, highlighting the importance of monitoring the company’s strategic responses. The earnings results and the company’s ability to navigate these challenges are of significant interest to stakeholders. This recent performance is crucial for investors to consider when evaluating Integer Holdings’ future prospects.
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