Aberdeen Group plc Cuts Stock Holdings in Integer Holdings Corporation $ITGR

Aberdeen Group plc lowered its position in shares of Integer Holdings Corporation (NYSE:ITGR) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,109 shares of the medical equipment provider’s stock after selling 28,120 shares during the quarter. Aberdeen Group plc owned approximately 0.83% of Integer worth $29,437,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ITGR. State Street Corp boosted its stake in Integer by 1.0% during the 2nd quarter. State Street Corp now owns 1,326,050 shares of the medical equipment provider’s stock worth $163,064,000 after purchasing an additional 13,540 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of Integer by 9.1% in the second quarter. Viking Global Investors LP now owns 1,283,965 shares of the medical equipment provider’s stock worth $157,889,000 after buying an additional 106,692 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of 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 buying an additional 993,810 shares in the last quarter. Franklin Resources Inc. boosted its position in Integer by 11.5% during the second quarter. Franklin Resources Inc. now owns 907,232 shares of the medical equipment provider’s stock worth $111,562,000 after acquiring an additional 93,294 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Integer by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 819,089 shares of the medical equipment provider’s stock valued at $100,736,000 after acquiring an additional 31,026 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Integer Price Performance

Integer stock opened at $85.92 on Tuesday. The company’s 50 day simple moving average is $81.75 and its 200-day simple moving average is $88.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 3.71. Integer Holdings Corporation has a 1 year low of $62.00 and a 1 year high of $144.76. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 35.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77.

Integer announced that its board has initiated 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 reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

ITGR has been the topic of a number of research reports. Wall Street Zen lowered shares of Integer from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. KeyCorp reduced their price objective on Integer from $145.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Bank of America lowered Integer from a “buy” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a research note on Friday, October 24th. Truist Financial raised their target price on Integer from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Benchmark reiterated a “hold” rating on shares of Integer in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Integer presently has a consensus rating of “Hold” and an average target price of $98.38.

About Integer

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.