Principal Financial Group Inc. Cuts Position in Integer Holdings Co. (NYSE:ITGR)

Principal Financial Group Inc. reduced its position in shares of Integer Holdings Co. (NYSE:ITGR) by 1.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 175,362 shares of the medical equipment provider’s stock after selling 3,306 shares during the period. Principal Financial Group Inc.’s holdings in Integer were worth $22,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. grew its position in Integer by 55.9% in the 3rd quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. Xponance Inc. grew its holdings in shares of Integer by 4.9% in the second quarter. Xponance Inc. now owns 2,112 shares of the medical equipment provider’s stock valued at $245,000 after purchasing an additional 99 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of Integer by 0.9% in the third quarter. Azzad Asset Management Inc. ADV now owns 11,572 shares of the medical equipment provider’s stock valued at $1,504,000 after purchasing an additional 107 shares in the last quarter. GAMMA Investing LLC increased its stake in Integer by 60.9% during the 2nd quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 142 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Integer by 3.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,948 shares of the medical equipment provider’s stock worth $689,000 after buying an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Integer Stock Up 0.5 %

ITGR stock opened at $137.62 on Thursday. The stock has a market cap of $4.62 billion, a P/E ratio of 42.48, a PEG ratio of 1.97 and a beta of 1.09. The company has a current ratio of 3.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67. Integer Holdings Co. has a twelve month low of $84.75 and a twelve month high of $140.91. The company’s 50 day moving average is $128.83 and its two-hundred day moving average is $122.26.

Integer (NYSE:ITGR) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $440.59 million. During the same period last year, the business earned $1.27 EPS. Integer’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts expect that Integer Holdings Co. will post 5.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on ITGR shares. Bank of America boosted their price target 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. Truist Financial cut their price target on Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Citigroup lifted their price objective on Integer from $124.00 to $130.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and set a $140.00 target price (up from $125.00) on shares of Integer in a research note on Friday, October 25th. Finally, Benchmark raised their target price on shares of Integer from $130.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Integer currently has an average rating of “Moderate Buy” and an average target price of $139.75.

About Integer

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.