The Manufacturers Life Insurance Company Boosts Stake in Integer Holdings Co. (NYSE:ITGR)

The Manufacturers Life Insurance Company lifted its stake in Integer Holdings Co. (NYSE:ITGR) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,862 shares of the medical equipment provider’s stock after purchasing an additional 11,856 shares during the period. The Manufacturers Life Insurance Company owned 0.54% of Integer worth $20,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITGR. Public Employees Retirement Association of Colorado increased its stake in Integer by 3,260.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 285,439 shares of the medical equipment provider’s stock worth $28,281,000 after buying an additional 276,944 shares in the last quarter. F M Investments LLC purchased a new stake in Integer in the 2nd quarter worth $11,143,000. Point72 Europe London LLP purchased a new stake in Integer in the 2nd quarter worth $6,241,000. Congress Asset Management Co. MA increased its stake in Integer by 12.5% in the 4th quarter. Congress Asset Management Co. MA now owns 421,524 shares of the medical equipment provider’s stock worth $41,765,000 after buying an additional 46,776 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in Integer by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 1,208,319 shares of the medical equipment provider’s stock worth $139,911,000 after buying an additional 37,340 shares in the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITGR has been the subject of several research reports. Truist Financial increased their price objective on shares of Integer from $137.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Benchmark reissued a “buy” rating and set a $130.00 price objective on shares of Integer in a report on Friday, August 2nd. 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 report on Tuesday. Citigroup increased their price objective on shares of Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Oppenheimer initiated coverage on shares of Integer in a report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.29.

Integer Stock Down 2.2 %

Shares of NYSE:ITGR opened at $127.19 on Wednesday. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.73. Integer Holdings Co. has a 12 month low of $69.40 and a 12 month high of $131.87. The company has a 50-day moving average price of $123.37 and a 200 day moving average price of $119.31. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 1.87 and a beta of 1.09.

Integer (NYSE:ITGR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.06. The business had revenue of $436.20 million during the quarter, compared to the consensus estimate of $437.00 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, equities research analysts predict that Integer Holdings Co. will post 5.31 earnings per share for the current year.

Insider Activity

In other news, Director Jean M. Hobby sold 11,960 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total transaction of $1,431,133.60. Following the sale, the director now directly owns 2,280 shares of the company’s stock, valued at $272,824.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

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.