Integer Holdings Corporation $ITGR Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in shares of Integer Holdings Corporation (NYSE:ITGR) by 90.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,451 shares of the medical equipment provider’s stock after selling 13,294 shares during the quarter. AlphaQuest LLC’s holdings in Integer were worth $150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. raised its holdings in Integer by 885.1% during the second quarter. Alliancebernstein L.P. now owns 1,106,091 shares of the medical equipment provider’s stock worth $136,016,000 after purchasing an additional 993,810 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Integer during the 3rd quarter valued at $41,938,000. Tributary Capital Management LLC increased its position in shares of Integer by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 499,776 shares of the medical equipment provider’s stock valued at $51,642,000 after purchasing an additional 240,226 shares during the period. Millennium Management LLC raised its stake in shares of Integer by 2,408.8% in the 1st quarter. Millennium Management LLC now owns 123,132 shares of the medical equipment provider’s stock worth $14,531,000 after buying an additional 118,224 shares in the last quarter. Finally, Viking Global Investors LP lifted its holdings 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 valued at $157,889,000 after buying an additional 106,692 shares during the period. 99.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of Integer from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Raymond James Financial reiterated an “outperform” rating and issued a $95.00 target price (down from $143.00) on shares of Integer in a report on Friday, October 24th. Benchmark restated a “hold” rating on shares of Integer in a report on Friday, October 24th. Piper Sandler dropped their price target on Integer from $155.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, Truist Financial increased their price objective on Integer from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.38.

Integer Stock Down 2.5%

Integer stock opened at $85.03 on Friday. Integer Holdings Corporation has a twelve month low of $62.00 and a twelve month high of $144.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 3.71. The firm has a market cap of $2.98 billion, a PE ratio of 35.58, a P/E/G ratio of 0.80 and a beta of 0.77. The firm’s 50 day moving average price is $81.10 and its two-hundred day moving average price is $89.19.

Integer announced that its board has authorized a share buyback program on Tuesday, November 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Integer Company Profile

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.