Hsbc Holdings PLC Buys Shares of 35,611 Integer Holdings Corporation $ITGR

Key Points

• Hsbc Holdings PLC acquired 35,611 shares of Integer Holdings in the second quarter, valued at approximately $3.29 million and representing about 0.10% of the company. Institutional investors collectively own 99.29% of Integer’s stock.
• Integer reported quarterly EPS of $1.60, beating estimates of $1.38, while revenue of $464.11 million also exceeded expectations. However, revenue declined 2.6% year over year.
• Analysts have generally turned more cautious, with multiple firms downgrading Integer to “hold” or “market perform.” The stock had an average “Hold” rating and a consensus price target of $109.86, below its reported $126.11 share price.

Hsbc Holdings PLC acquired a new stake in Integer Holdings Corporation (NYSE:ITGR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,611 shares of the medical equipment provider's stock, valued at approximately $3,292,000. Hsbc Holdings PLC owned approximately 0.10% of Integer as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Integer during the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Integer by 48.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 360 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 117 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Integer by 1,037.5% in the 4th quarter. TD Private Client Wealth LLC now owns 455 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 415 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Integer by 135.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 464 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 267 shares during the last quarter. Finally, Arax Advisory Partners raised its holdings in shares of Integer by 2,489.5% during the 4th quarter. Arax Advisory Partners now owns 492 shares of the medical equipment provider's stock worth $39,000 after acquiring an additional 473 shares during the period. Hedge funds and other institutional investors own 99.29% of the company's stock.

Integer Stock Performance

Shares of Integer stock opened at $126.11 on Friday. The business has a 50-day simple moving average of $113.59 and a 200-day simple moving average of $97.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.41 and a current ratio of 3.73. Integer Holdings Corporation has a one year low of $62.00 and a one year high of $126.79. The company has a market cap of $4.29 billion, a PE ratio of 34.46, a P/E/G ratio of 2.39 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 EPS for the quarter, beating the consensus estimate of $1.38 by $0.22. The firm had revenue of $464.11 million for the quarter, compared to analyst estimates of $451.07 million. Integer had a return on equity of 12.79% and a net margin of 6.97%.Integer'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 company posted $1.55 earnings per share. On average, equities research analysts forecast that Integer Holdings Corporation will post 6.09 EPS for the current fiscal year.

Analysts Set New Price Targets

ITGR has been the topic of several recent analyst reports. KeyCorp lowered shares of Integer from an "overweight" rating to a "sector weight" rating in a report on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Integer in a report on Thursday, June 18th. Oppenheimer lowered shares of Integer from an "outperform" rating to a "market perform" rating in a research report on Monday, August 3rd. Truist Financial cut Integer from a "buy" rating to a "hold" rating and upped their price objective for the company from $110.00 to $127.00 in a report on Monday, August 3rd. Finally, Benchmark cut Integer from a "buy" rating to a "hold" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Integer presently has an average rating of "Hold" and a consensus price target of $109.86.

Insiders Place Their Bets

In other news, insider Andrew Senn sold 9,408 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $126.30, for a total value of $1,188,230.40. Following the completion of the sale, the insider directly owned 5,405 shares of the company's stock, valued at approximately $682,651.50. This represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.

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