HBK Investments L P Invests $14.50 Million in Integer Holdings Corporation $ITGR

Key Points

• HBK Investments initiated a $14.5 million position in Integer Holdings, purchasing 155,186 shares, or approximately 0.46% of the medical-device manufacturer. Institutional investors collectively own 99.29% of the company.
• Integer reported quarterly EPS of $1.60, exceeding the $1.38 consensus estimate, while revenue reached $464.11 million. However, revenue declined 2.6% year over year.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from MarketBeat, with an average price target of $109.86, below its reported trading price of $126.22.

HBK Investments L P purchased a new position in Integer Holdings Corporation (NYSE:ITGR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 155,186 shares of the medical equipment provider's stock, valued at approximately $14,502,000. HBK Investments L P owned about 0.46% of Integer as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Heartland Advisors Inc. grew its stake in shares of Integer by 506.8% in 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 last quarter. WINTON GROUP Ltd bought a new position in shares of Integer during the fourth quarter valued at $4,836,000. William Blair Investment Management LLC raised its position in shares of Integer by 70.1% in 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 during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Integer in the 2nd quarter worth about $746,000. Finally, First National Bank of Omaha bought a new position in Integer in the 2nd quarter worth about $1,725,000. Institutional investors own 99.29% of the company's stock.

Wall Street Analyst Weigh In

ITGR has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Integer in a research report on Thursday, June 18th. HC Wainwright reaffirmed a "buy" rating on shares of Integer in a report on Friday, July 24th. Benchmark downgraded shares of Integer from a "buy" rating to a "hold" rating in a research note on Thursday, August 13th. Citigroup increased their price target on shares of Integer from $92.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Finally, Freedom Capital downgraded shares of Integer from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, Integer currently has a consensus rating of "Hold" and an average target price of $109.86.

Integer Stock Performance

NYSE ITGR traded up $0.01 during trading hours on Wednesday, hitting $126.22. The company's stock had a trading volume of 1,124,095 shares, compared to its average volume of 775,637. Integer Holdings Corporation has a 12 month low of $62.00 and a 12 month high of $126.79. The company's 50 day simple moving average is $115.55 and its two-hundred day simple moving average is $97.92. 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 cap of $4.29 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62.

Integer (NYSE:ITGR - Get Free Report) last posted its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.22. The business 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 business's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. As a group, sell-side analysts expect that Integer Holdings Corporation will post 6.09 EPS for the current fiscal year.

Insider Buying and Selling at Integer

In related news, insider Andrew Senn sold 9,408 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total transaction of $1,188,230.40. Following the transaction, the insider owned 5,405 shares in the company, valued at $682,651.50. This represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Integer Company Profile

Integer Holdings Corporation, doing business as Integer, is a medical device contract development and manufacturing company. The company partners with medical technology companies to design, develop and manufacture components and finished products used in a range of healthcare applications.

Integer's medical products include batteries and power sources, implantable components, electrodes, leads, catheters and other products used in cardiovascular, neuromodulation, vascular, orthopedic, diabetes and minimally invasive medical devices.

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