The Manufacturers Life Insurance Company Grows Position in Integer Holdings Corporation $ITGR

Key Points

• The Manufacturers Life Insurance Company increased its stake in Integer Holdings Corporation by 40.2%, acquiring 61,273 additional shares to hold a total of 213,741 shares valued at approximately $25.2 million.
• Director Donald J. Spence and Director Martin C. Maxwell sold significant amounts of their Integer stock, reducing their ownership by 43.97% and 28.23% respectively.
• Equity analysts have mixed views on Integer, with Citigroup upgrading the stock to a strong-buy rating while Wells Fargo lowered its target price from $152 to $132.

The Manufacturers Life Insurance Company grew its position in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,741 shares of the medical equipment provider's stock after acquiring an additional 61,273 shares during the quarter. The Manufacturers Life Insurance Company owned 0.61% of Integer worth $25,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ITGR. Russell Investments Group Ltd. boosted its holdings in Integer by 14.7% during the first quarter. Russell Investments Group Ltd. now owns 6,749 shares of the medical equipment provider's stock worth $796,000 after purchasing an additional 863 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Integer in the 4th quarter worth approximately $208,000. Teacher Retirement System of Texas bought a new position in shares of Integer in the first quarter valued at approximately $579,000. Quantbot Technologies LP purchased a new stake in shares of Integer during the first quarter valued at approximately $193,000. Finally, MQS Management LLC bought a new stake in Integer during the first quarter worth $272,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ITGR shares. Wall Street Zen upgraded Integer from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Wells Fargo & Company reduced their price target on shares of Integer from $152.00 to $132.00 and set an "overweight" 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 price objective for the stock from $133.00 to $140.00 in a research report on Thursday, May 22nd. Truist Financial reduced their target price on shares of Integer from $145.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Finally, Raymond James Financial lowered their price target on shares of Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $140.25.

Integer Price Performance

ITGR traded up $0.22 during trading on Friday, reaching $106.82. 317,647 shares of the company were exchanged, compared to its average volume of 467,112. Integer Holdings Corporation has a 12-month low of $104.93 and a 12-month high of $146.36. The company's 50-day moving average is $111.61 and its two-hundred day moving average is $117.19. The company has a quick ratio of 2.18, a current ratio of 3.41 and a debt-to-equity ratio of 0.72. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 47.06, a P/E/G ratio of 0.83 and a beta of 1.03.

Integer (NYSE:ITGR - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The company had revenue of $476.00 million for the quarter, compared to analysts' expectations of $464.37 million. During the same period in the previous year, the firm earned $1.30 EPS. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. Research analysts forecast that Integer Holdings Corporation will post 6.01 earnings per share for the current fiscal 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.