Allspring Global Investments Holdings LLC Sells 56,180 Shares of Integer Holdings Corporation $ITGR

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Integer Holdings Corporation by 34.9%, selling 56,180 shares during the second quarter.
• Integer reported a quarterly EPS of $1.55, missing analysts' expectations, but its revenue increased by 11.4% year-over-year to $476 million.
• Despite recent downgrades in price targets by several firms, Wall Street analysts maintain a consensus rating of "Moderate Buy" for Integer, with an average target price of $137.29.

Allspring Global Investments Holdings LLC lowered its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 34.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 104,770 shares of the medical equipment provider's stock after selling 56,180 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.30% of Integer worth $12,708,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in Integer during the first quarter valued at about $35,000. Bessemer Group Inc. grew its position in Integer by 73.1% during the first quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 125 shares during the period. CWM LLC grew its position in Integer by 46.1% during the second quarter. CWM LLC now owns 355 shares of the medical equipment provider's stock valued at $44,000 after buying an additional 112 shares during the period. GAMMA Investing LLC grew its position in Integer by 20.2% during the second quarter. GAMMA Investing LLC now owns 796 shares of the medical equipment provider's stock valued at $98,000 after buying an additional 134 shares during the period. Finally, Headlands Technologies LLC grew its position in Integer by 1,234.8% during the first quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock valued at $145,000 after buying an additional 1,136 shares during the period. Institutional investors own 99.29% of the company's stock.

Integer Price Performance

Shares of NYSE:ITGR opened at $104.87 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $3.67 billion, a PE ratio of 46.20, a P/E/G ratio of 0.81 and a beta of 0.97. Integer Holdings Corporation has a twelve month low of $99.54 and a twelve month high of $146.36. The company has a 50-day moving average price of $104.91 and a two-hundred day moving average price of $113.12.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The firm had revenue of $476.00 million during the quarter, compared to the consensus estimate of $464.37 million. During the same quarter last year, the business posted $1.30 earnings per share. Integer's revenue was up 11.4% compared to the same quarter last year. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. Equities analysts forecast that Integer Holdings Corporation will post 6.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ITGR shares. Wall Street Zen upgraded shares of Integer from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Raymond James Financial reduced their price target on shares of Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Truist Financial cut their target price on shares of Integer from $137.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Integer in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their target price on shares of Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Integer currently has an average rating of "Moderate Buy" and a consensus target price of $137.29.

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.

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