Is Integer Holdings Corp. overvalued or undervalued?

As of 24 April 2025, Integer Holdings Corp. has moved from an expensive to a very expensive valuation grade. The company is currently overvalued, with a P/E ratio of 45, which significantly exceeds the industry average. Additionally, the EV to EBITDA ratio stands at 15.31, and the Price to Book Value is 2.63, indicating a high valuation relative to its earnings and assets.
In comparison to peers, Integer Holdings Corp. has a notably higher P/E ratio than CONMED Corp., which has a P/E of 19.36, and is also significantly higher than other risky peers such as Glaukos Corp. and iRhythm Technologies, which have negative P/E ratios. While Integer has shown a positive return of 2.63% over the past year, it has underperformed compared to the S&P 500's return of 10.26% in the same period, reinforcing the view that the stock is overvalued.