Nantahala Capital Management LLC Purchases Shares of 111,302 Integer Holdings Corporation $ITGR

Key Points

• Nantahala Capital Management purchased 111,302 shares of Integer Holdings in the second quarter, valued at approximately $10.4 million, giving it a 0.33% stake.
• Integer reported quarterly EPS of $1.60, beating analysts’ $1.38 estimate, while revenue of $464.1 million exceeded expectations but declined 2.6% year over year.
• Institutional investors own 99.29% of Integer’s shares, but Wall Street sentiment is largely neutral: 13 analysts rate the stock “Hold” and one rates it “Buy,” with an average price target of $109.86 versus a recent price of $125.30.

Nantahala Capital Management LLC acquired a new position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 111,302 shares of the medical equipment provider's stock, valued at approximately $10,401,172. Nantahala Capital Management LLC owned 0.33% of Integer at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Irenic Capital Management LP acquired a new stake in shares of Integer during the 4th quarter worth about $99,109,000. Alliancebernstein L.P. boosted its holdings in shares of Integer by 885.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider's stock worth $136,016,000 after buying an additional 993,810 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Integer by 1,141.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider's stock valued at $72,076,000 after buying an additional 753,081 shares during the last quarter. Millennium Management LLC grew its stake in Integer by 3,350.2% in the 4th quarter. Millennium Management LLC now owns 677,108 shares of the medical equipment provider's stock valued at $53,106,000 after buying an additional 657,483 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Integer in the 2nd quarter valued at about $50,925,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Integer Price Performance

Shares of Integer stock opened at $125.30 on Friday. The company has a quick ratio of 2.41, a current ratio of 3.73 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. Integer Holdings Corporation has a twelve month low of $62.00 and a twelve month high of $126.14. The company has a 50-day simple moving average of $107.58 and a two-hundred day simple moving average of $94.48.

Integer (NYSE:ITGR - Get Free Report) last announced its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.22. Integer had a net margin of 6.97% and a return on equity of 12.79%. The firm had revenue of $464.11 million for the quarter, compared to analyst estimates of $451.07 million. During the same quarter in the prior year, the business posted $1.55 EPS. The business's revenue was down 2.6% compared to the same quarter last year. Analysts forecast that Integer Holdings Corporation will post 6.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Freedom Capital downgraded shares of Integer from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Citigroup upped their target price on Integer from $92.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Raymond James Financial cut Integer from a "moderate buy" rating to a "hold" rating in a report on Monday, August 3rd. Truist Financial downgraded Integer from a "buy" rating to a "hold" rating and boosted their price target for the company from $110.00 to $127.00 in a research note on Monday, August 3rd. Finally, Zacks Research upgraded Integer from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, Integer has an average rating of "Hold" and an average target price of $109.86.

Integer 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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