Public Sector Pension Investment Board Trims Stake in Integer Holdings Co. (NYSE:ITGR)

Public Sector Pension Investment Board lowered its position in Integer Holdings Co. (NYSE:ITGR) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,172 shares of the medical equipment provider’s stock after selling 2,500 shares during the period. Public Sector Pension Investment Board’s holdings in Integer were worth $9,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITGR. Contravisory Investment Management Inc. raised its holdings in Integer by 55.9% in the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 80 shares in the last quarter. Huntington National Bank grew its position in shares of Integer by 8,933.3% in the 3rd quarter. Huntington National Bank now owns 271 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 268 shares during the period. Quest Partners LLC increased its stake in shares of Integer by 3,688.9% in the 2nd quarter. Quest Partners LLC now owns 341 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 332 shares in the last quarter. GAMMA Investing LLC lifted its position in Integer by 60.9% during the 2nd quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock valued at $43,000 after acquiring an additional 142 shares during the period. Finally, Innealta Capital LLC purchased a new position in Integer during the 2nd quarter valued at about $110,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Integer Price Performance

NYSE ITGR opened at $140.71 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.09 and a current ratio of 3.28. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 2.02 and a beta of 1.09. The stock has a 50-day moving average of $131.38 and a 200 day moving average of $124.36. Integer Holdings Co. has a one year low of $84.75 and a one year high of $142.00.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. Integer had a net margin of 6.70% and a return on equity of 11.63%. The firm had revenue of $431.42 million during the quarter, compared to analysts’ expectations of $440.59 million. During the same period in the previous year, the company earned $1.27 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Integer Holdings Co. will post 5.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITGR. KeyCorp raised their target price on shares of Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective (up previously from $125.00) on shares of Integer in a research report on Friday, October 25th. Benchmark increased their target price on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Citigroup lifted their price target on Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Bank of America increased their price objective on shares of Integer from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.75.

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.