Cibc World Market Inc. Takes Position in Integer Holdings Corporation $ITGR

Key Points

• CIBC World Markets acquired 325,100 shares of Integer Holdings during the second quarter, worth approximately $30.4 million and representing 0.96% of the company. Institutional investors collectively own 99.29% of Integer.
• Integer reported quarterly earnings of $1.60 per share, beating analyst expectations of $1.38, while revenue of $464.1 million also exceeded estimates. However, revenue declined 2.6% year over year.
• Integer shares opened at $125.22, near their 52-week high of $126.14. Despite the strong share performance, analysts maintain a consensus “Hold” rating with an average price target of $109.86.

Cibc World Market Inc. acquired a new stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 325,100 shares of the medical equipment provider's stock, valued at approximately $30,381,000. Cibc World Market Inc. owned 0.96% of Integer as of its most recent filing with the SEC.

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

Integer Stock Up 0.0%

ITGR opened at $125.22 on Monday. The stock has a market cap of $4.26 billion, a PE ratio of 34.21, a P/E/G ratio of 2.96 and a beta of 0.61. 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 Holdings Corporation has a 52 week low of $62.00 and a 52 week high of $126.14. The business's fifty day simple moving average is $104.12 and its 200 day simple moving average is $93.15.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.22. Integer had a return on equity of 12.79% and a net margin of 6.97%.The business had revenue of $464.11 million for the quarter, compared to the consensus estimate of $451.07 million. During the same quarter last year, the business posted $1.55 earnings per share. The company's revenue for the quarter was down 2.6% on a year-over-year basis. As a group, research analysts expect that Integer Holdings Corporation will post 6.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

ITGR has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Integer from $84.00 to $127.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Integer in a research note on Thursday, June 18th. HC Wainwright reissued a "buy" rating on shares of Integer in a report on Friday, July 24th. Oppenheimer downgraded shares of Integer from an "outperform" rating to a "market perform" rating in a report on Monday, August 3rd. Finally, KeyCorp lowered shares of Integer from an "overweight" rating to a "sector weight" rating in a research report 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's stock. According to MarketBeat.com, Integer currently has a consensus rating of "Hold" and an average price target of $109.86.

Integer 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source