Vanguard Group Inc. Cuts Stock Position in Integer Holdings Corporation $ITGR

Key Points

• Vanguard Group Inc. has reduced its stake in Integer Holdings Corporation by 1.6%, now owning approximately 10.82% of the company, valued at $445.52 million.
• A range of hedge funds have adjusted their positions in Integer, with notable increases in stakes by Bessemer Group Inc. and Sterling Capital Management LLC, reflecting ongoing interest from institutional investors.
• Integer's most recent quarterly earnings report showed revenue growth of 11.4% year-over-year, although earnings per share fell short of analysts' expectations.

Vanguard Group Inc. cut its stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,775,228 shares of the medical equipment provider's stock after selling 60,342 shares during the quarter. Vanguard Group Inc. owned 10.82% of Integer worth $445,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its holdings in Integer by 5.8% during the 1st quarter. TD Private Client Wealth LLC now owns 1,524 shares of the medical equipment provider's stock worth $180,000 after acquiring an additional 83 shares during the last quarter. Xponance Inc. boosted its stake in shares of Integer by 5.1% in the 1st quarter. Xponance Inc. now owns 2,518 shares of the medical equipment provider's stock valued at $297,000 after purchasing an additional 122 shares during the last quarter. Bessemer Group Inc. boosted its stake 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 valued at $35,000 after purchasing an additional 125 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Integer by 0.8% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 19,867 shares of the medical equipment provider's stock valued at $2,633,000 after purchasing an additional 152 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Integer by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,488 shares of the medical equipment provider's stock valued at $462,000 after purchasing an additional 175 shares during the last quarter. 99.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITGR has been the topic of a number of analyst reports. Benchmark reduced their price objective on shares of Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Citigroup raised shares of Integer from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $133.00 to $140.00 in a research note on Thursday, May 22nd. Truist Financial reduced 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. Wall Street Zen upgraded shares of Integer from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company dropped their target price on shares of Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $140.25.

Integer Stock Up 0.8%

ITGR traded up $0.9020 during trading on Wednesday, hitting $107.1720. 336,504 shares of the company's stock were exchanged, compared to its average volume of 444,600. 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 business's 50 day moving average is $114.15 and its two-hundred day moving average is $119.62. Integer Holdings Corporation has a fifty-two week low of $104.93 and a fifty-two week high of $146.36. The stock has a market cap of $3.75 billion, a P/E ratio of 47.21, a PEG ratio of 0.84 and a beta of 1.02.

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

Insider Buying and Selling at Integer

In other Integer news, Director Martin C. Maxwell sold 8,720 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 in the company, valued at approximately $2,672,815.20. This represents a 28.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Donald J. Spence sold 14,739 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the transaction, the director owned 18,781 shares in the company, valued at approximately $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 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.