Hsbc Holdings PLC Has $659,000 Position in Integer Holdings Corporation $ITGR

Key Points

• Hsbc Holdings PLC reduced its stake in Integer Holdings Corporation by 55.5%, owning 5,595 shares valued at approximately $659,000 as of the latest SEC filing.
• Analysts have given Integer a Buy rating with an average price target of $140.25, reflecting confidence in the company's performance despite a slight earnings miss in its latest quarter.
• Institutional investors dominate the ownership of Integer, holding 99.29% of the company's stock, indicating strong institutional confidence in its growth potential.

Hsbc Holdings PLC lessened its position in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 55.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,595 shares of the medical equipment provider's stock after selling 6,967 shares during the quarter. Hsbc Holdings PLC's holdings in Integer were worth $659,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Integer in the first quarter valued at approximately $193,000. Versor Investments LP grew its position in Integer by 48.6% in the first quarter. Versor Investments LP now owns 3,404 shares of the medical equipment provider's stock valued at $402,000 after purchasing an additional 1,113 shares in the last quarter. Raymond James Financial Inc. increased its stake in Integer by 6.9% in the 1st quarter. Raymond James Financial Inc. now owns 307,141 shares of the medical equipment provider's stock valued at $36,245,000 after buying an additional 19,839 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Integer by 14.7% during the 1st quarter. Russell Investments Group Ltd. now owns 6,749 shares of the medical equipment provider's stock worth $796,000 after buying an additional 863 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Integer by 27.4% during the 1st quarter. Public Sector Pension Investment Board now owns 106,382 shares of the medical equipment provider's stock worth $12,554,000 after buying an additional 22,847 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup raised Integer from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $133.00 to $140.00 in a research report on Thursday, May 22nd. Wells Fargo & Company decreased their price target on Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Raymond James Financial dropped their price objective on Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Truist Financial decreased their target price on shares of Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Integer from a "hold" rating to a "buy" rating in a report on Saturday. One equities 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. According to MarketBeat, Integer has an average rating of "Buy" and a consensus price target of $140.25.

Insider Transactions at Integer

In related news, Director Donald J. Spence sold 14,739 shares of Integer stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the completion of the sale, the director owned 18,781 shares of the company's stock, valued at approximately $2,260,856.78. The trade was a 43.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin C. Maxwell sold 8,720 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the completion of the transaction, the director owned 22,170 shares in the company, valued at approximately $2,672,815.20. This trade represents a 28.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.16% of the company's stock.

Integer Stock Performance

Shares of NYSE ITGR opened at $107.58 on Monday. The company has a current ratio of 3.41, a quick ratio of 2.18 and a debt-to-equity ratio of 0.72. Integer Holdings Corporation has a 12 month low of $104.93 and a 12 month high of $146.36. The stock has a 50 day moving average of $112.71 and a 200-day moving average of $117.82. The company has a market capitalization of $3.77 billion, a P/E ratio of 47.39, a P/E/G ratio of 0.85 and a beta of 1.03.

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

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