US Bancorp DE Reduces Stock Holdings in Integer Holdings Corporation $ITGR

Key Points

• US Bancorp DE has reduced its stake in Integer Holdings Corporation by 21.0%, resulting in ownership of 9,332 shares valued at approximately $1,148,000.
• Several hedge funds, including Intech Investment Management, have actively increased their holdings in Integer, with Intech scaling up its investment by 92.8%.
• Wall Street analysts currently rate Integer Holdings as a "Moderate Buy", with target prices ranging from $121.00 to $143.00, despite the company missing earnings estimates in its latest report.

US Bancorp DE lowered its position in Integer Holdings Corporation (NYSE:ITGR - Free Report) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,332 shares of the medical equipment provider's stock after selling 2,488 shares during the quarter. US Bancorp DE's holdings in Integer were worth $1,148,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC grew its holdings in shares of Integer by 92.8% in the first quarter. Intech Investment Management LLC now owns 22,682 shares of the medical equipment provider's stock valued at $2,677,000 after purchasing an additional 10,915 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Integer during the first quarter worth about $916,000. Russell Investments Group Ltd. boosted its stake 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 buying an additional 863 shares during the period. Teacher Retirement System of Texas purchased a new position in Integer during the first quarter worth about $579,000. Finally, KLP Kapitalforvaltning AS boosted its stake in Integer by 6.1% during the second quarter. KLP Kapitalforvaltning AS now owns 7,000 shares of the medical equipment provider's stock worth $861,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ITGR shares. Wells Fargo & Company lowered their target price on shares of Integer from $152.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Wall Street Zen raised shares of Integer from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Raymond James Financial lowered their target price on shares of Integer from $150.00 to $143.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Integer in a research note on Wednesday, October 8th. Finally, Truist Financial lowered their target price on shares of Integer from $137.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $137.29.

Integer Trading Up 1.7%

NYSE ITGR opened at $104.87 on Friday. The firm has a 50 day simple moving average of $104.91 and a 200-day simple moving average of $113.12. 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 one year low of $99.54 and a one year high of $146.36. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 0.81 and a beta of 0.97.

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 for the quarter, missing the consensus estimate of $1.57 by ($0.02). The firm had revenue of $476.00 million during the quarter, compared to analyst estimates of $464.37 million. Integer had a net margin of 4.61% and a return on equity of 12.27%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. Integer has set its FY 2025 guidance at 6.250-6.510 EPS. Equities research analysts anticipate that Integer Holdings Corporation will post 6.01 EPS 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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