Public Sector Pension Investment Board Purchases 22,847 Shares of Integer Holdings Corporation (NYSE:ITGR)

Key Points

• The Public Sector Pension Investment Board increased its stake in Integer Holdings Corporation by 27.4% during the first quarter, now owning approximately 0.30% of the company, valued at $12.55 million.
• Several other institutional investors have recently adjusted their positions in Integer, with notable increases including a 472.9% increase in holdings by Sterling Capital Management.
• Integer's recent quarterly earnings reported $1.55 earnings per share, slightly missing analysts' estimates while revenue rose 11.4% year-over-year to $476 million.

Public Sector Pension Investment Board lifted its holdings in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 27.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,382 shares of the medical equipment provider's stock after purchasing an additional 22,847 shares during the quarter. Public Sector Pension Investment Board owned about 0.30% of Integer worth $12,554,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ITGR. Opal Wealth Advisors LLC purchased a new position in shares of Integer in the 1st quarter worth $28,000. AdvisorNet Financial Inc purchased a new position in shares of Integer in the 1st quarter worth $28,000. Bessemer Group Inc. raised its position in shares of Integer by 73.1% in the 1st quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider's stock worth $35,000 after buying an additional 125 shares during the period. Sterling Capital Management LLC raised its position 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 worth $45,000 after buying an additional 279 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Integer by 1,234.8% in the 1st 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 period. Institutional investors and hedge funds own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ITGR. Wells Fargo & Company cut their price objective on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Raymond James Financial cut their price objective on Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Citigroup raised Integer from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $133.00 to $140.00 in a research report on Thursday, May 22nd. Finally, Truist Financial lowered their target price on Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.25.

Insider Activity at Integer

In other Integer news, Director Martin C. Maxwell sold 8,720 shares of the business's stock in a transaction that occurred on 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 transaction, the director owned 22,170 shares of the company's stock, valued at $2,672,815.20. The trade was a 28.23% decrease in their ownership of the stock. The sale 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 in the company, valued at $2,260,856.78. The trade was a 43.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company's stock.

Integer Stock Performance

Shares of ITGR traded up $0.07 during trading hours on Friday, reaching $106.84. 202,340 shares of the company traded hands, compared to its average volume of 471,183. The stock's fifty day moving average is $115.06 and its 200 day moving average is $120.22. The stock has a market cap of $3.74 billion, a P/E ratio of 47.07, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.18 and a current ratio of 3.41. Integer Holdings Corporation has a 1-year low of $104.93 and a 1-year high of $146.36.

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 (EPS) 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 analyst estimates of $464.37 million. Integer had a return on equity of 12.27% and a net margin of 4.61%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS. Equities research analysts anticipate that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal year.

About Integer

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.