Cubist Systematic Strategies LLC Buys New Stake in Integer Holdings Corporation $ITGR

Key Points

• Cubist Systematic Strategies LLC purchased 8,774 shares of Integer Holdings Corporation valued at approximately $1,035,000 in Q1.
• A majority of the stock, 99.29%, is owned by institutional investors, with several firms increasing their positions in Integer.
• The company's most recent earnings report indicated a miss on EPS estimates, but revenue saw an 11.4% year-over-year increase.

Cubist Systematic Strategies LLC purchased a new position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,774 shares of the medical equipment provider's stock, valued at approximately $1,035,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Integer during the 1st quarter worth about $28,000. AdvisorNet Financial Inc purchased a new position in Integer during the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new position in Integer in the first quarter valued at approximately $35,000. Bessemer Group Inc. boosted its position in Integer by 73.1% in the 1st quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Integer by 1,234.8% during the 1st quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock worth $145,000 after purchasing an additional 1,136 shares during the period. Institutional investors and hedge funds own 99.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ITGR shares. Citigroup upgraded shares of Integer from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $133.00 to $140.00 in a research report on Thursday, May 22nd. Raymond James Financial reduced their price target on Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wells Fargo & Company dropped their price objective on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Wall Street Zen raised Integer from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Truist Financial decreased their target price on Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $140.25.

Integer Trading Down 2.6%

ITGR stock traded down $2.70 during trading on Friday, reaching $101.53. 396,487 shares of the stock were exchanged, compared to its average volume of 279,643. The company has a current ratio of 3.41, a quick ratio of 2.18 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 44.73, a P/E/G ratio of 0.82 and a beta of 1.03. The business has a 50 day moving average price of $109.53 and a 200-day moving average price of $115.89. Integer Holdings Corporation has a 1 year low of $100.89 and a 1 year high of $146.36.

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

Integer Company Profile

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.