Public Sector Pension Investment Board Increases Stake in 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 increased its position in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 106,382 shares of the medical equipment provider's stock after acquiring 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 large investors also recently added to or reduced their stakes in ITGR. Raymond James Financial Inc. purchased a new stake in Integer in the 4th quarter worth about $38,073,000. Sterling Capital Management LLC increased its holdings in 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 acquiring an additional 279 shares during the last quarter. Townsquare Capital LLC increased its holdings in Integer by 16.3% in the 4th quarter. Townsquare Capital LLC now owns 31,467 shares of the medical equipment provider's stock worth $4,170,000 after acquiring an additional 4,412 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Integer by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,488 shares of the medical equipment provider's stock valued at $462,000 after buying an additional 175 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Integer during the 4th quarter valued at about $354,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ITGR shares. Truist Financial reduced their target price on Integer from $145.00 to $137.00 and set a "buy" rating for the company in a report on Friday, July 25th. Wall Street Zen raised Integer from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Wells Fargo & Company reduced their target price on Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Benchmark reduced their target price on Integer from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Citigroup raised Integer from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $133.00 to $140.00 in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Integer currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.25.

Insider Buying and Selling

In related 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 value of $1,051,283.20. Following the completion of the sale, the director owned 22,170 shares in the company, valued at $2,672,815.20. The trade was a 28.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald J. Spence sold 14,739 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total value of $1,774,280.82. Following the completion of the sale, the director owned 18,781 shares of the company's stock, 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. Insiders own 2.16% of the company's stock.

Integer Stock Performance

Shares of ITGR opened at $107.19 on Wednesday. The company has a market cap of $3.76 billion, a PE ratio of 47.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.02. 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 stock has a 50-day moving average price of $115.83 and a 200-day moving average price of $120.96. Integer Holdings Corporation has a 12-month low of $104.93 and a 12-month high of $146.36.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). The business had revenue of $476.00 million for 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 business's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. As a group, equities analysts forecast 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.

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