Lord Abbett & CO. LLC Has $33.69 Million Stock Holdings in Integer Holdings Corporation $ITGR

Key Points

• Lord Abbett & CO. LLC significantly reduced its stake in Integer Holdings Corporation by selling 6,069,075 shares, resulting in a 95.5% ownership decrease, leaving it with only 285,480 shares valued at $33.69 million.
• In the first quarter, other institutional investors also increased their holdings in Integer, with the Public Sector Pension Investment Board and Russell Investments Group Ltd. growing their stakes by 27.4% and 14.7%, respectively.
• Despite missing earnings estimates with $1.55 EPS, Integer reported 11.4% growth in revenue year-over-year, amounting to $476 million, showcasing potential resilience in its financial performance.

Lord Abbett & CO. LLC reduced its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 95.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 285,480 shares of the medical equipment provider's stock after selling 6,069,075 shares during the period. Lord Abbett & CO. LLC owned 0.82% of Integer worth $33,689,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. AdvisorNet Financial Inc acquired a new stake in Integer during the first quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Integer during the 1st quarter worth about $28,000. Bessemer Group Inc. lifted its holdings in shares of Integer by 73.1% during the 1st quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 125 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Integer by 472.9% in the 4th quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 279 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in Integer by 1,234.8% in the first quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock worth $145,000 after buying an additional 1,136 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Integer Stock Performance

ITGR traded up $0.9020 during midday trading on Wednesday, reaching $107.1720. The company's stock had a trading volume of 336,504 shares, compared to its average volume of 444,600. The company has a current ratio of 3.41, a quick ratio of 2.18 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $114.15 and a 200 day simple moving average of $119.62. The stock has a market cap of $3.75 billion, a P/E ratio of 47.21, a PEG ratio of 0.84 and a beta of 1.02. Integer Holdings Corporation has a twelve month low of $104.93 and a twelve month high of $146.36.

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

Analyst Upgrades and Downgrades

ITGR has been the topic of several recent research reports. Raymond James Financial cut their price objective 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. Wells Fargo & Company cut their price target on shares of Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Citigroup raised shares of Integer from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from $133.00 to $140.00 in a research report on Thursday, May 22nd. Finally, Truist Financial reduced their price target on Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Integer currently has an average rating of "Buy" and a consensus target price of $140.25.

Insider Buying and Selling at Integer

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

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.