abrdn plc Sells 126,351 Shares of Integer Holdings Co. (NYSE:ITGR)

abrdn plc trimmed its position in Integer Holdings Co. (NYSE:ITGR) by 30.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,241 shares of the medical equipment provider’s stock after selling 126,351 shares during the period. abrdn plc owned approximately 0.88% of Integer worth $38,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. OLD National Bancorp IN boosted its position in shares of Integer by 10.9% in the 3rd quarter. OLD National Bancorp IN now owns 2,375 shares of the medical equipment provider’s stock worth $309,000 after purchasing an additional 234 shares in the last quarter. Waypoint Capital Advisors LLC purchased a new stake in Integer in the third quarter valued at about $246,000. Creative Planning boosted its holdings in Integer by 22.2% in the third quarter. Creative Planning now owns 9,077 shares of the medical equipment provider’s stock worth $1,180,000 after acquiring an additional 1,650 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Integer by 55.9% during the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares during the last quarter. Finally, High Note Wealth LLC increased its holdings in shares of Integer by 66.8% during the third quarter. High Note Wealth LLC now owns 3,200 shares of the medical equipment provider’s stock valued at $416,000 after acquiring an additional 1,282 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITGR has been the subject of a number of recent analyst reports. Bank of America lifted their target price on shares of Integer from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Piper Sandler reissued an “overweight” rating and set a $140.00 price objective (up from $125.00) on shares of Integer in a report on Friday, October 25th. Citigroup raised their target price on Integer from $124.00 to $130.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. KeyCorp boosted their price target on Integer from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Truist Financial reduced their price objective on Integer from $150.00 to $147.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.75.

Integer Stock Performance

Shares of ITGR stock opened at $129.94 on Thursday. Integer Holdings Co. has a 52-week low of $79.68 and a 52-week high of $133.53. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.35 billion, a PE ratio of 44.96, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The business has a 50-day simple moving average of $128.00 and a 200-day simple moving average of $121.27.

Integer (NYSE:ITGR) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $431.42 million during the quarter, compared to the consensus estimate of $440.59 million. Integer had a return on equity of 11.48% and a net margin of 6.31%. Integer’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. On average, equities analysts expect that Integer Holdings Co. will post 5.3 EPS for the current year.

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.