Bluefin Capital Management LLC Boosts Holdings in Integer Holdings Corporation $ITGR

Key Points

• Bluefin Capital Management increased its Integer Holdings stake by 263.6% in the second quarter, ending with 30,332 shares worth approximately $2.84 million. Institutional investors collectively own 99.29% of the company.
• Integer exceeded quarterly expectations, reporting $1.60 in earnings per share versus the $1.38 consensus and revenue of $464.11 million, although revenue declined 2.6% year over year.
• Analyst sentiment is largely neutral: one analyst rates Integer a Buy and 13 rate it Hold, producing a consensus Hold rating and a $109.86 price target. Shares opened at $125.30, near their 12-month high of $126.14.

Bluefin Capital Management LLC grew its stake in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 263.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,332 shares of the medical equipment provider's stock after purchasing an additional 21,990 shares during the quarter. Integer makes up 0.7% of Bluefin Capital Management LLC's holdings, making the stock its 21st biggest position. Bluefin Capital Management LLC owned about 0.09% of Integer worth $2,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Integer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,886,150 shares of the medical equipment provider's stock worth $304,791,000 after acquiring an additional 14,465 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Integer by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,396 shares of the medical equipment provider's stock valued at $130,620,000 after purchasing an additional 90,277 shares during the last quarter. State Street Corp lifted its holdings in Integer by 3.7% in the 4th quarter. State Street Corp now owns 1,371,767 shares of the medical equipment provider's stock valued at $107,588,000 after purchasing an additional 48,463 shares in the last quarter. Viking Global Investors LP lifted its holdings in Integer by 9.1% in the 2nd quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider's stock valued at $157,889,000 after purchasing an additional 106,692 shares in the last quarter. Finally, Irenic Capital Management LP acquired a new stake in Integer during the 4th quarter worth $99,109,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Integer from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a research report on Monday, August 3rd. Benchmark cut shares of Integer from a "buy" rating to a "hold" rating in a research note on Thursday, August 13th. HC Wainwright reiterated a "buy" rating on shares of Integer in a report on Friday, July 24th. Finally, Raymond James Financial lowered shares of Integer from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $109.86.

Integer Price Performance

Shares of ITGR stock opened at $125.30 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.73 and a quick ratio of 2.41. The company has a market capitalization of $4.26 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. The firm's 50-day moving average is $107.58 and its two-hundred day moving average is $94.48. Integer Holdings Corporation has a 12 month low of $62.00 and a 12 month high of $126.14.

Integer (NYSE:ITGR - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.22. The business had revenue of $464.11 million during the quarter, compared to analysts' expectations of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. Analysts predict that Integer Holdings Corporation will post 6.09 earnings per share for the current year.

About Integer

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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