Natixis Advisors LLC Raises Holdings in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Natixis Advisors LLC increased its stake in Integer Holdings Corporation by 117.7%, acquiring an additional 50,924 shares during the first quarter, bringing its total to 94,202 shares valued at approximately $11.1 million.
• Several large investors, including TD Private Client Wealth and Bessemer Group, have also increased their positions in Integer, with institutional investors owning 99.29% of the company's stock.
• Integer's recent earnings report showed revenue of $476 million but missed EPS estimates by $0.02, leading to varied analyst ratings, including upgrades that resulted in a consensus target price of $140.25.

Natixis Advisors LLC lifted its position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 117.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,202 shares of the medical equipment provider's stock after purchasing an additional 50,924 shares during the period. Natixis Advisors LLC owned about 0.27% of Integer worth $11,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ITGR. Capital Research Global Investors lifted its holdings in shares of Integer by 16.0% in the 4th quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider's stock worth $186,960,000 after purchasing an additional 194,895 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Integer by 4.9% during the first quarter. Congress Asset Management Co. now owns 522,656 shares of the medical equipment provider's stock worth $61,679,000 after acquiring an additional 24,306 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Integer by 5.5% during the fourth quarter. Driehaus Capital Management LLC now owns 451,464 shares of the medical equipment provider's stock worth $59,828,000 after acquiring an additional 23,706 shares during the last quarter. Northern Trust Corp grew its position in shares of Integer by 14.2% during the fourth quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider's stock worth $55,974,000 after acquiring an additional 52,556 shares during the last quarter. Finally, Cooke & Bieler LP grew its position in shares of Integer by 6.3% during the first quarter. Cooke & Bieler LP now owns 317,393 shares of the medical equipment provider's stock worth $37,456,000 after acquiring an additional 18,790 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Integer Trading Up 0.7%

NYSE:ITGR traded up $0.78 during mid-day trading on Tuesday, reaching $107.61. 234,758 shares of the company's stock traded hands, compared to its average volume of 500,644. Integer Holdings Corporation has a 12-month low of $104.93 and a 12-month high of $146.36. The company has a 50 day moving average price of $117.42 and a 200-day moving average price of $122.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.41 and a quick ratio of 2.18. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 0.84 and a beta of 1.02.

Integer (NYSE:ITGR - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $476.00 million during 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 business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 EPS. On average, sell-side analysts predict that Integer Holdings Corporation will post 6.01 earnings per share for the current year.

Insider Buying and Selling at Integer

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James Financial decreased their target price on Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Citigroup upgraded shares of Integer from a "hold" rating to a "strong-buy" rating and raised their price objective for the stock from $133.00 to $140.00 in a research note on Thursday, May 22nd. KeyCorp cut their price objective on Integer from $154.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Finally, Truist Financial cut their price target on Integer from $145.00 to $137.00 and set a "buy" rating for the company in a report on Friday, July 25th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $140.25.

Integer 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.