Hsbc Holdings PLC Buys Shares of 35,611 Integer Holdings Corporation $ITGR

Hsbc Holdings PLC bought a new position in shares of Integer Holdings Corporation (NYSE:ITGR) during the second quarter, Holdings Channel reports. The institutional investor bought 35,611 shares of the medical equipment provider’s stock, valued at approximately $3,292,000.

Several other hedge funds and other institutional investors have also modified their holdings of ITGR. Irenic Capital Management LP bought a new stake in shares of Integer during the 4th quarter valued at about $99,109,000. Alliancebernstein L.P. lifted its holdings in Integer by 885.1% in the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider’s stock worth $136,016,000 after acquiring an additional 993,810 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Integer by 1,141.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 819,046 shares of the medical equipment provider’s stock worth $72,076,000 after acquiring an additional 753,081 shares during the last quarter. Millennium Management LLC boosted its stake in Integer by 3,350.2% in the fourth quarter. Millennium Management LLC now owns 677,108 shares of the medical equipment provider’s stock valued at $53,106,000 after acquiring an additional 657,483 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Integer during the 2nd quarter worth approximately $50,925,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Integer Price Performance

Shares of NYSE ITGR opened at $125.30 on Friday. The stock has a market cap of $4.26 billion, a P/E ratio of 34.24, a P/E/G ratio of 2.96 and a beta of 0.61. The firm’s 50-day simple moving average is $107.58 and its 200 day simple moving average is $94.48. Integer Holdings Corporation has a fifty-two week low of $62.00 and a fifty-two week high of $126.14. The company has a quick ratio of 2.41, a current ratio of 3.73 and a debt-to-equity ratio of 0.75.

Integer (NYSE:ITGR) last announced its earnings results on Monday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.22. The firm had revenue of $464.11 million during the quarter, compared to analyst estimates of $451.07 million. Integer had a net margin of 6.97% and a return on equity of 12.79%. Integer’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. Equities analysts expect that Integer Holdings Corporation will post 6.09 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ITGR shares. Piper Sandler lowered Integer from an “overweight” rating to a “hold” rating and set a $127.00 price objective for the company. in a research report on Monday, August 3rd. KeyCorp lowered shares of Integer from an “overweight” rating to a “sector weight” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Integer in a report on Thursday, June 18th. Citigroup lifted their price objective on shares of Integer from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, Benchmark lowered shares of Integer from a “buy” rating to a “hold” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $109.86.

Integer Company Profile

Integer Holdings Corporation (NYSE: ITGR) is a global provider of outsourced medical device design, development and manufacturing solutions. The company partners with leading medical technology firms to deliver complex components, subsystems and finished devices across a range of therapeutic areas. Its services encompass concept and product design, precision machining, microelectronic assembly, terminal sterilization and regulatory support, enabling customers to accelerate time to market and optimize product performance.

Integer’s product portfolio is organized into two core segments: Advanced Delivery and MedTech.