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ITGR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Integer Holdings Corporation (ITGR) stock moving?
Integer is being acquired under an Agreement and Plan of Merger dated Aug 2, 2026 with Armstrong Parent, Inc., an affiliate of KKR funds. Stockholders approved the deal on Oct 21, 2026, with about 99.95% of votes cast in favor, representing about 76.66% of outstanding shares. Closing is expected by the end of 2026, subject to customary conditions and required regulatory approvals. Third-quarter results on Oct 29 were weak: sales of $449.66M missed the $457.15M estimate, adjusted EPS of $1.34 missed $1.69, and sales and operating income declined. StoneX reiterated its Hold rating on Nov 3. The price has been pinned in a tight $126.5 to $126.8 range over the last 30 trading sessions, with a VWAP near $126.6 and no visible reaction to the earnings miss. Volume spiked around Nov 4 to Nov 5 and has since eased to about 673K shares on Nov 10. The stock is trading like a merger-arbitrage position, so near-term price moves are likely to be small and driven by deal-progress headlines. The deal price is not in the provided data, so the remaining spread cannot be measured.
News behind the analysis
- StoneX Reiterates Hold Rating on Integer Holdings CorporationStoneX maintained its 'Hold' rating on Integer Holdings (NYSE: ITGR), leaving its view unchanged after the third-quarter results.
- Integer Holdings Corporation Reports Third Quarter 2026 ResultsInteger reported a decrease in sales and operating income for the quarter ended October 2, 2026.
- Integer Holdings Q3 Adj. EPS $1.34 Misses $1.69 Estimate, Sales $449.661M Miss $457.154M EstimateAdjusted EPS of $1.34 and sales of $449.66M both came in below consensus estimates of $1.69 and $457.15M.
About Integer Holdings Corporation
Integer Holdings, based in Plano, Texas, is one of the largest contract makers of medical devices. It designs and builds parts and finished devices such as catheters, guidewires, leads and implantable batteries that other medtech companies sell under their own brands. In August 2026 it agreed to be bought by KKR for $127 per share in cash (about $5.7 billion including debt), with the deal expected to close by the end of 2026, after which the stock would be delisted.
How it makes money
Integer earns revenue from manufacturing contracts with large medical device companies. Most sales, roughly 80%+, come from cardio and vascular products (catheters, guidewires, electrophysiology and structural-heart components). Most of the rest comes from cardiac rhythm management and neuromodulation parts such as leads and implantable power sources. Expected 2026 sales were about $1.8 billion, and the company has exited its smaller Portable Medical business.
What usually moves ITGR
- Status and timing of the pending KKR buyout at $127 per share
- Order volumes and forecasts from major medtech customers
- How quickly new electrophysiology and neuromodulation programs ramp up
- Procedure volumes in cardiology and vascular care
- Debt levels and margins