Edgestream Partners L.P. Reduces Position in Integer Holdings Corporation $ITGR

Edgestream Partners L.P. trimmed its stake in Integer Holdings Corporation (NYSE:ITGR) by 28.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,142 shares of the medical equipment provider’s stock after selling 10,587 shares during the period. Edgestream Partners L.P. owned 0.07% of Integer worth $3,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in shares of Integer by 11.5% in the second quarter. Franklin Resources Inc. now owns 907,232 shares of the medical equipment provider’s stock worth $111,562,000 after buying an additional 93,294 shares during the period. Geode Capital Management LLC increased its holdings in Integer by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 819,089 shares of the medical equipment provider’s stock worth $100,736,000 after acquiring an additional 31,026 shares in the last quarter. Congress Asset Management Co. raised its stake in Integer by 1.6% during the 2nd quarter. Congress Asset Management Co. now owns 530,807 shares of the medical equipment provider’s stock worth $65,273,000 after acquiring an additional 8,151 shares during the period. Aberdeen Group plc lifted 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 valued at $39,256,000 after purchasing an additional 88,784 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Integer by 6.9% in 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ITGR. Argus downgraded shares of Integer from a “buy” rating to a “hold” rating in a research report on Friday, October 24th. Bank of America downgraded Integer from a “buy” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Integer in a research note on Friday, October 31st. Citigroup decreased their target price on Integer from $77.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Finally, Truist Financial reduced their price objective on shares of Integer from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.50.

Integer Price Performance

Integer stock opened at $69.78 on Thursday. Integer Holdings Corporation has a 52-week low of $62.00 and a 52-week high of $146.36. The company has a quick ratio of 2.45, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $83.08 and its 200 day moving average is $102.49. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 0.66 and a beta of 0.82.

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

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

Insider Buying and Selling

In related news, EVP Diron Smith purchased 1,116 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $67.19 per share, for a total transaction of $74,984.04. Following the acquisition, the executive vice president owned 7,698 shares of the company’s stock, valued at approximately $517,228.62. This represents a 16.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tommy P. Thomas sold 884 shares of Integer stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.15, for a total transaction of $62,012.60. Following the transaction, the vice president directly owned 3,596 shares of the company’s stock, valued at $252,259.40. The trade was a 19.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 5,843 shares of company stock valued at $384,771. 2.16% of the stock is currently owned by company insiders.

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.