Aigen Investment Management LP Makes New $572,000 Investment in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Aigen Investment Management LP has acquired a new stake in Integer Holdings Corporation, purchasing 4,850 shares valued at approximately $572,000.
• Multiple hedge funds recently adjusted their positions in Integer, with notable investments including Raymond James Financial Inc. buying a $38 million stake in the company.
• Integer reported a quarterly EPS of $1.55, falling short of the consensus estimate of $1.57, yet its revenue was up 11.4% year-over-year, totaling $476 million.

Aigen Investment Management LP purchased a new position in Integer Holdings Corporation (NYSE:ITGR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,850 shares of the medical equipment provider's stock, valued at approximately $572,000.

Other institutional investors also recently modified their holdings of the company. Entropy Technologies LP bought a new stake in shares of Integer in the first quarter worth approximately $719,000. Townsquare Capital LLC boosted its position in shares of Integer by 11.2% in the first quarter. Townsquare Capital LLC now owns 34,992 shares of the medical equipment provider's stock worth $4,129,000 after purchasing an additional 3,525 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Integer in the first quarter worth approximately $3,934,000. Wolverine Asset Management LLC purchased a new position in shares of Integer in the first quarter worth $1,145,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Integer by 1,234.8% in the first quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock worth $145,000 after buying an additional 1,136 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ITGR. KeyCorp cut their price objective on shares of Integer from $154.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company dropped their price target on shares of Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Truist Financial reduced their price target on Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Finally, Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $133.00 to $140.00 in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.25.

Integer Price Performance

Shares of ITGR traded up $0.07 during trading hours on Friday, reaching $106.84. 202,340 shares of the company traded hands, compared to its average volume of 471,183. The stock has a fifty day simple moving average of $115.06 and a 200 day simple moving average of $120.38. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72. Integer Holdings Corporation has a fifty-two week low of $104.93 and a fifty-two week high of $146.36. The stock has a market capitalization of $3.74 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). The business had revenue of $476.00 million for the quarter, compared to analysts' expectations of $464.37 million. Integer had a return on equity of 12.27% and a net margin of 4.61%. Integer's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, research analysts predict that Integer Holdings Corporation will post 6.01 EPS for the current fiscal year.

Insider Activity at Integer

In other Integer news, Director Donald J. Spence sold 14,739 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the completion of the transaction, the director owned 18,781 shares in the company, valued at approximately $2,260,856.78. The trade was a 43.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin C. Maxwell sold 8,720 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $120.56, for a total value of $1,051,283.20. Following the transaction, the director owned 22,170 shares of the company's stock, valued at $2,672,815.20. This trade represents a 28.23% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.

About Integer

Integer Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, non-vascular, urology, and gastroenterology procedures.