Portside Wealth Group LLC Invests $356,000 in Integer Holdings Co. (NYSE:ITGR)

Portside Wealth Group LLC acquired a new stake in Integer Holdings Co. (NYSE:ITGR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,738 shares of the medical equipment provider’s stock, valued at approximately $356,000.

Several other hedge funds have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. increased its holdings in shares of Integer by 55.9% in 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 in the last quarter. Quest Partners LLC raised its holdings in Integer by 3,688.9% during the 2nd quarter. Quest Partners LLC now owns 341 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 332 shares during the period. GAMMA Investing LLC lifted its stake in Integer by 60.9% in the second quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 142 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Integer in the first quarter valued at approximately $106,000. Finally, Innealta Capital LLC acquired a new stake in shares of Integer during the second quarter worth $110,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

Integer Price Performance

Shares of ITGR opened at $136.76 on Friday. The company has a current ratio of 3.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $128.43 and its 200 day simple moving average is $121.85. Integer Holdings Co. has a 1-year low of $83.69 and a 1-year high of $138.31. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 1.94 and a beta of 1.09.

Integer (NYSE:ITGR) last issued its 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. Integer had a net margin of 6.70% and a return on equity of 11.63%. The company had revenue of $431.42 million for the quarter, compared to analysts’ expectations of $440.59 million. During the same period in the prior year, the firm earned $1.27 EPS. Integer’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts forecast that Integer Holdings Co. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America upped 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. Truist Financial dropped their target price on Integer from $150.00 to $147.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Benchmark upped their price target on Integer from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up from $125.00) on shares of Integer in a report on Friday, October 25th. Finally, Oppenheimer assumed coverage on shares of Integer in a report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.