Corient Private Wealth LP Acquires New Position in Integer Holdings Corporation $ITGR

Key Points

• Corient Private Wealth LP acquired 48,606 shares of Integer Holdings, valued at approximately $4.54 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 99.29% of the company.
• Analyst sentiment remains cautious: one analyst rates Integer a Buy while 13 recommend Hold, resulting in a consensus Hold rating and an average price target of $109.86.
• Integer exceeded quarterly expectations with earnings of $1.60 per share versus the $1.38 consensus and revenue of $464.11 million, although revenue declined 2.6% year over year. Shares opened at $125.32, near the company’s 52-week high of $126.14.

Corient Private Wealth LP bought a new position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 48,606 shares of the medical equipment provider's stock, valued at approximately $4,542,000. Corient Private Wealth LP owned 0.14% of Integer as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Heartland Advisors Inc. increased its position in shares of Integer by 506.8% during the fourth quarter. Heartland Advisors Inc. now owns 242,715 shares of the medical equipment provider's stock worth $19,036,000 after acquiring an additional 202,715 shares during the period. WINTON GROUP Ltd purchased a new position in Integer in the fourth quarter valued at $4,836,000. Jennison Associates LLC acquired a new position in Integer during the 4th quarter worth $1,036,000. Kestrel Investment Management Corp acquired a new position in Integer during the 4th quarter worth $5,933,000. Finally, William Blair Investment Management LLC grew its stake in Integer by 70.1% during the 4th quarter. William Blair Investment Management LLC now owns 468,377 shares of the medical equipment provider's stock worth $36,735,000 after purchasing an additional 192,956 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ITGR. Citigroup increased their price target on Integer from $92.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Truist Financial downgraded Integer from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $110.00 to $127.00 in a research report on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Integer in a research note on Thursday, June 18th. Freedom Capital cut shares of Integer from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, KeyCorp downgraded shares of Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $109.86.

Integer Stock Performance

Shares of ITGR opened at $125.32 on Tuesday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. Integer Holdings Corporation has a 52-week low of $62.00 and a 52-week 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. The stock has a 50 day moving average price of $108.28 and a 200 day moving average price of $94.82.

Integer (NYSE:ITGR - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.22. The company had revenue of $464.11 million for 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 firm's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.55 earnings per share. Research analysts predict that Integer Holdings Corporation will post 6.09 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.

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