Magnetar Financial LLC Takes $680,000 Position in Integer Holdings Corporation $ITGR

Key Points

• Magnetar Financial LLC acquired a new stake in Integer Holdings Corporation, purchasing 5,761 shares valued at approximately $680,000 during the first quarter.
• Several institutional investors increased their stakes in Integer, resulting in 99.29% of the company's shares being owned by institutional investors.
• Integer's earnings report indicated a 4.61% net margin with a year-over-year revenue increase of 11.4%, despite missing analysts' earnings expectations for the quarter.

Magnetar Financial LLC acquired a new stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,761 shares of the medical equipment provider's stock, valued at approximately $680,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC lifted its holdings in Integer by 5.8% during the first quarter. TD Private Client Wealth LLC now owns 1,524 shares of the medical equipment provider's stock valued at $180,000 after purchasing an additional 83 shares in the last quarter. Xponance Inc. lifted its holdings in Integer by 5.1% during the first quarter. Xponance Inc. now owns 2,518 shares of the medical equipment provider's stock valued at $297,000 after purchasing an additional 122 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Integer by 73.1% during the first quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Integer by 1.0% during the first quarter. Nisa Investment Advisors LLC now owns 20,450 shares of the medical equipment provider's stock valued at $2,413,000 after purchasing an additional 197 shares in the last quarter. Finally, LVZ Inc. lifted its holdings in Integer by 7.9% during the first quarter. LVZ Inc. now owns 2,830 shares of the medical equipment provider's stock valued at $334,000 after purchasing an additional 207 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Stock Performance

ITGR stock traded up $0.22 on Friday, hitting $106.82. The company's stock had a trading volume of 317,647 shares, compared to its average volume of 259,769. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 47.06, a price-to-earnings-growth ratio of 0.84 and a beta of 1.03. 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 1 year low of $104.93 and a 1 year high of $146.36. The firm has a 50 day moving average of $111.29 and a two-hundred day moving average of $116.77.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ITGR shares. Citigroup raised shares of Integer from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $133.00 to $140.00 in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price target on shares of Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Wall Street Zen raised shares of Integer from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Raymond James Financial decreased their price target on shares of Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Finally, Truist Financial cut their price objective on shares of Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $140.25.

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.