Hsbc Holdings PLC Makes New $3.29 Million Investment in Integer Holdings Corporation $ITGR

Key Points

• Hsbc Holdings PLC acquired 35,611 shares of Integer Holdings in the second quarter, representing an investment of approximately $3.29 million and about 0.10% of the company.
• Integer exceeded quarterly expectations, reporting earnings of $1.60 per share versus the $1.38 consensus estimate and revenue of $464.11 million. Institutional investors collectively own 99.29% of the stock.
• Despite strong earnings and shares trading near a 12-month high at $125.30, analyst sentiment remains cautious: 13 analysts rate the stock Hold and one rates it Buy, with a consensus price target of $109.86.

Hsbc Holdings PLC acquired a new position in Integer Holdings Corporation (NYSE:ITGR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Other hedge funds have also made changes to their positions in the company. Heartland Advisors Inc. raised its position in Integer by 506.8% in the fourth quarter. Heartland Advisors Inc. now owns 242,715 shares of the medical equipment provider's stock valued at $19,036,000 after purchasing an additional 202,715 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Integer in the fourth quarter valued at about $4,836,000. Jennison Associates LLC purchased a new stake in shares of Integer during the 4th quarter valued at about $1,036,000. Kestrel Investment Management Corp acquired a new position in Integer during the 4th quarter worth approximately $5,933,000. Finally, William Blair Investment Management LLC lifted its position 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 acquiring an additional 192,956 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Integer Price Performance

Shares of NYSE:ITGR opened at $125.30 on Friday. The firm has a market cap of $4.26 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. The company has a fifty day simple moving average of $107.58 and a 200 day simple moving average of $94.48. The company has a current ratio of 3.73, a quick ratio of 2.41 and a debt-to-equity ratio of 0.75. Integer Holdings Corporation has a 12-month low of $62.00 and a 12-month high of $126.14.

Integer (NYSE:ITGR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The medical equipment provider reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.22. The firm had revenue of $464.11 million for the quarter, compared to the consensus estimate of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. The firm's revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Integer Holdings Corporation will post 6.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ITGR. Benchmark downgraded shares of Integer from a "buy" rating to a "hold" rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their target price on shares of Integer from $84.00 to $127.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. KeyCorp downgraded shares of Integer from an "overweight" rating to a "sector weight" rating in a research note on Monday, August 3rd. Freedom Capital lowered shares of Integer from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, HC Wainwright reissued a "buy" rating on shares of Integer in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $109.86.

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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