Zions Bancorporation National Association UT Makes New Investment in Integer Holdings Corporation (NYSE:ITGR)

Key Points

• Zions Bancorporation National Association UT has acquired a new position in Integer Holdings Corporation, purchasing 33,332 shares valued at approximately $3.93 million.
• Integer Holdings Corporation reported earnings of $1.55 per share, missing estimates, but revenue of $476 million exceeded expectations, reflecting an 11.4% year-over-year increase.
• Analysts have mixed reviews on Integer, with a consensus rating of "Moderate Buy" and an average price target of $140.25, following various adjustments to their ratings and price targets.

Zions Bancorporation National Association UT bought a new stake in shares of Integer Holdings Corporation (NYSE:ITGR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,332 shares of the medical equipment provider's stock, valued at approximately $3,934,000. Zions Bancorporation National Association UT owned approximately 0.10% of Integer at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Integer in the 4th quarter valued at $208,000. Teacher Retirement System of Texas acquired a new stake in Integer in the 1st quarter valued at $579,000. Alliancebernstein L.P. grew its stake in Integer by 1.0% in the 4th quarter. Alliancebernstein L.P. now owns 42,781 shares of the medical equipment provider's stock valued at $5,669,000 after acquiring an additional 410 shares during the period. Raymond James Financial Inc. purchased a new position in Integer in the 4th quarter valued at $38,073,000. Finally, Northern Trust Corp lifted its holdings in Integer by 14.2% in the 4th quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider's stock valued at $55,974,000 after purchasing an additional 52,556 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Donald J. Spence sold 14,739 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 18,781 shares of the company's stock, valued at approximately $2,260,856.78. The trade was a 43.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Martin C. Maxwell sold 8,720 shares of the company'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 sale, the director owned 22,170 shares of the company's stock, valued at $2,672,815.20. This trade represents a 28.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

Integer Trading Up 1.4%

Shares of NYSE ITGR traded up $1.52 during trading on Wednesday, hitting $108.85. 282,203 shares of the company were exchanged, compared to its average volume of 487,429. Integer Holdings Corporation has a 12-month low of $104.93 and a 12-month high of $146.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.18 and a current ratio of 3.41. The company has a fifty day moving average price of $115.83 and a 200-day moving average price of $120.96. The firm has a market capitalization of $3.81 billion, a PE ratio of 47.95, a P/E/G ratio of 0.83 and a beta of 1.02.

Integer (NYSE:ITGR - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, equities research analysts expect that Integer Holdings Corporation will post 6.01 EPS for the current year.

Wall Street Analyst Weigh In

ITGR has been the topic of a number of research reports. Raymond James Financial decreased their price objective on Integer from $150.00 to $143.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Benchmark decreased their price objective on Integer from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Citigroup upgraded Integer from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $133.00 to $140.00 in a report on Thursday, May 22nd. Truist Financial decreased their price objective on Integer from $145.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Finally, Wells Fargo & Company decreased their price objective on Integer from $152.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $140.25.

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.