Integer Holdings Corporation $ITGR Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in Integer Holdings Corporation by 4.3%, selling 20,291 shares and owning a total of 451,574 shares valued at $53.29 million.
• Integer recently reported quarterly earnings of $1.55 EPS, which was below analysts' expectations of $1.57, but had revenue of $476 million that exceeded expectations.
• Wall Street analysts are optimistic about Integer, with an average rating of "Buy" and a consensus price target of $140.25, despite some recent price target reductions from various firms.

Royal Bank of Canada decreased its holdings in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 451,574 shares of the medical equipment provider's stock after selling 20,291 shares during the quarter. Royal Bank of Canada owned about 1.29% of Integer worth $53,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new position in Integer in the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Integer during the first quarter worth about $28,000. Bessemer Group Inc. grew its holdings in shares of Integer by 73.1% during the first 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 last quarter. SVB Wealth LLC acquired a new position in Integer in the 1st quarter valued at about $35,000. Finally, Headlands Technologies LLC raised its stake in Integer by 1,234.8% during the 1st quarter. Headlands Technologies LLC now owns 1,228 shares of the medical equipment provider's stock valued at $145,000 after acquiring an additional 1,136 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ITGR. Wells Fargo & Company lowered their target price on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Truist Financial dropped their price objective on shares of Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Raymond James Financial cut their price objective on shares of Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Citigroup raised shares of 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. Finally, Wall Street Zen upgraded shares of Integer from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One investment 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 company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $140.25.

Integer Price Performance

Shares of ITGR traded up $1.67 during trading hours on Thursday, reaching $104.14. The company had a trading volume of 445,016 shares, compared to its average volume of 267,399. 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 12-month low of $101.63 and a 12-month high of $146.36. The firm has a 50 day simple moving average of $109.92 and a 200-day simple moving average of $116.14. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 0.81 and a beta of 1.03.

Integer (NYSE:ITGR - Get Free Report) last issued its 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 company had revenue of $476.00 million during the quarter, compared to analysts' expectations of $464.37 million. Integer had a net margin of 4.61% and a return on equity of 12.27%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. Research analysts expect that Integer Holdings Corporation will post 6.01 earnings per share for the current year.

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.