Rhumbline Advisers Buys 2,285 Shares of Integer Holdings Corporation $ITGR

Rhumbline Advisers lifted its stake in shares of Integer Holdings Corporation (NYSE:ITGR) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,306 shares of the medical equipment provider’s stock after purchasing an additional 2,285 shares during the period. Rhumbline Advisers owned 0.28% of Integer worth $11,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ITGR. Franklin Resources Inc. raised its position in Integer by 11.5% during the second quarter. Franklin Resources Inc. now owns 907,232 shares of the medical equipment provider’s stock worth $111,562,000 after acquiring an additional 93,294 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Integer by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 819,089 shares of the medical equipment provider’s stock worth $100,736,000 after purchasing an additional 31,026 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Integer by 1.6% in the 2nd quarter. Congress Asset Management Co. now owns 530,807 shares of the medical equipment provider’s stock valued at $65,273,000 after purchasing an additional 8,151 shares during the period. Aberdeen Group plc grew its holdings in Integer by 38.5% during the second quarter. Aberdeen Group plc now owns 319,229 shares of the medical equipment provider’s stock worth $39,256,000 after purchasing an additional 88,784 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in Integer by 6.9% during the first quarter. Raymond James Financial Inc. now owns 307,141 shares of the medical equipment provider’s stock worth $36,245,000 after purchasing an additional 19,839 shares during the period. 99.29% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Cheryl C. Capps bought 1,600 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $66.70 per share, with a total value of $106,720.00. Following the acquisition, the director directly owned 11,702 shares in the company, valued at $780,523.40. This represents a 15.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Payman Khales purchased 3,127 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were purchased at an average cost of $64.94 per share, with a total value of $203,067.38. Following the acquisition, the chief executive officer owned 22,865 shares in the company, valued at $1,484,853.10. This trade represents a 15.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 5,843 shares of company stock valued at $384,771 in the last 90 days. 2.16% of the stock is owned by corporate insiders.

Integer Trading Up 0.2%

Shares of NYSE:ITGR opened at $72.18 on Monday. The business’s 50 day simple moving average is $85.05 and its 200 day simple moving average is $103.42. Integer Holdings Corporation has a 1 year low of $62.00 and a 1 year high of $146.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 2.45. The company has a market capitalization of $2.53 billion, a P/E ratio of 30.20, a P/E/G ratio of 0.60 and a beta of 0.95.

Integer (NYSE:ITGR) last released its earnings results on Thursday, October 23rd. The medical equipment provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.11. Integer had a return on equity of 12.84% and a net margin of 4.75%.During the same quarter in the prior year, the business posted $1.43 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Integer has set its FY 2025 guidance at 6.290-6.430 EPS. On average, research analysts anticipate that Integer Holdings Corporation will post 6.01 EPS for the current fiscal year.

Integer declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 4th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

ITGR has been the topic of several research analyst reports. Piper Sandler cut their price objective on Integer from $155.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Raymond James Financial reiterated an “outperform” rating and issued a $95.00 price target (down previously from $143.00) on shares of Integer in a research note on Friday, October 24th. Benchmark restated a “hold” rating on shares of Integer in a research report on Friday, October 24th. Wall Street Zen upgraded Integer from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $80.00 target price (down previously from $132.00) on shares of Integer in a research note on Friday, October 24th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.50.

Integer Company 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.