Integer Holdings Corporation $ITGR Position Boosted by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Integer Holdings Corporation by 31.4% during the second quarter, now owning 15,470 shares valued at approximately $1.9 million.
• Integer reported a missed earnings per share estimate for the latest quarter at $1.55, below analysts' consensus of $1.57, although it achieved an 11.4% revenue increase year-over-year.
• Various analysts have revised their price targets for Integer, with recent drops from Wells Fargo, Raymond James, and Truist Financial, indicating a consensus average target of $139.57 and a general rating of "Moderate Buy."

Public Employees Retirement System of Ohio grew its holdings in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 31.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,470 shares of the medical equipment provider's stock after purchasing an additional 3,693 shares during the period. Public Employees Retirement System of Ohio's holdings in Integer were worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC lifted its stake in Integer by 92.8% during the first quarter. Intech Investment Management LLC now owns 22,682 shares of the medical equipment provider's stock valued at $2,677,000 after buying an additional 10,915 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Integer in the first quarter worth about $916,000. Russell Investments Group Ltd. lifted its position in shares of Integer by 14.7% in the first 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 during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Integer in the fourth quarter worth about $208,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Integer in the first quarter worth about $579,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Stock Performance

Integer stock opened at $105.21 on Friday. The stock has a 50-day simple moving average of $105.65 and a 200 day simple moving average of $114.09. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72. Integer Holdings Corporation has a 12-month low of $99.73 and a 12-month high of $146.36. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 46.35, a P/E/G ratio of 0.81 and a beta of 0.97.

Integer (NYSE:ITGR - Get Free Report) last released 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 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 period in the prior year, the firm earned $1.30 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. On average, research analysts anticipate that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on ITGR shares. Wells Fargo & Company reduced their price target on Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Raymond James Financial dropped their price target on shares of Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Wall Street Zen raised shares of Integer from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Truist Financial dropped their price target on shares of Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Integer in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.57.

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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