Assenagon Asset Management S.A. Acquires New Position in Integer Holdings Corporation $ITGR

Key Points

• Assenagon Asset Management acquired 7,984 shares of Integer Holdings in the second quarter, valued at approximately $746,000. Institutional investors collectively own 99.29% of the company.
• Several major investors significantly increased their positions, including AllianceBernstein, Healthcare of Ontario Pension Plan Trust Fund, and Millennium Management, while Irenic Capital and J. Goldman initiated new stakes.
• Despite Integer beating quarterly earnings and revenue estimates, multiple analysts downgraded the stock to “Hold” or equivalent. The consensus rating is Hold, with an average price target of $109.86, below the reported share price of $125.34.

Assenagon Asset Management S.A. bought a new position in Integer Holdings Corporation (NYSE:ITGR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,984 shares of the medical equipment provider's stock, valued at approximately $746,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Irenic Capital Management LP bought a new stake in Integer in the fourth quarter worth $99,109,000. Alliancebernstein L.P. boosted its position in Integer by 885.1% during the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider's stock valued at $136,016,000 after buying an additional 993,810 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Integer by 1,141.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider's stock valued at $72,076,000 after buying an additional 753,081 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Integer by 3,350.2% in the 4th quarter. Millennium Management LLC now owns 677,108 shares of the medical equipment provider's stock valued at $53,106,000 after acquiring an additional 657,483 shares during the last quarter. Finally, J. Goldman & Co LP purchased a new stake in Integer during the 4th quarter valued at about $40,531,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

ITGR has been the topic of several recent research reports. Freedom Capital lowered Integer from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Benchmark downgraded Integer from a "buy" rating to a "hold" rating in a research report on Thursday. KeyCorp lowered Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a report on Monday, August 3rd. Finally, Piper Sandler cut shares of Integer from an "overweight" rating to a "hold" rating and set a $127.00 price target for the company. in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Integer presently has a consensus rating of "Hold" and an average target price of $109.86.

Integer Price Performance

Shares of ITGR stock opened at $125.34 on Friday. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 2.98 and a beta of 0.61. The business's fifty day moving average is $100.80 and its 200 day moving average is $91.74. Integer Holdings Corporation has a twelve month low of $62.00 and a twelve month high of $126.14. The company has a quick ratio of 2.41, a current ratio of 3.73 and a debt-to-equity ratio of 0.75.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.22. Integer had a net margin of 6.97% and a return on equity of 12.79%. The company had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. During the same period last year, the business earned $1.55 EPS. Integer's quarterly revenue was down 2.6% compared to the same quarter last year. Research analysts expect that Integer Holdings Corporation will post 6.04 EPS for the current fiscal year.

Integer Company Profile

Integer Holdings Corporation NYSE: ITGR is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.

Integer's product portfolio is organized into two core segments: Advanced Delivery and MedTech.

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