Fred Alger Management LLC Takes $2.55 Million Position in Integer Holdings Co. (NYSE:ITGR)

Fred Alger Management LLC acquired a new position in Integer Holdings Co. (NYSE:ITGR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,204 shares of the medical equipment provider’s stock, valued at approximately $2,545,000. Fred Alger Management LLC owned 0.06% of Integer as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in shares of Integer by 304.3% during the fourth quarter. Mather Group LLC. now owns 190 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Integer during the 4th quarter valued at about $27,000. R Squared Ltd acquired a new position in shares of Integer in the 4th quarter valued at about $44,000. Sterling Capital Management LLC boosted its holdings in shares of Integer by 472.9% during the fourth quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 279 shares during the period. Finally, Principal Securities Inc. grew its position in Integer by 31.2% during the fourth quarter. Principal Securities Inc. now owns 639 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

Integer Price Performance

Shares of Integer stock opened at $118.40 on Friday. Integer Holdings Co. has a 1-year low of $104.93 and a 1-year high of $146.36. The firm has a fifty day simple moving average of $118.43 and a 200-day simple moving average of $129.73. The company has a current ratio of 2.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.72 and a beta of 1.03.

Integer (NYSE:ITGR) last released its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. The company had revenue of $437.39 million during the quarter, compared to analysts’ expectations of $428.51 million. Integer had a net margin of 6.92% and a return on equity of 11.65%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. On average, sell-side analysts expect that Integer Holdings Co. will post 6.01 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ITGR. Raymond James lifted their target price on shares of Integer from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. StockNews.com cut Integer from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Benchmark dropped their target price on Integer from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Oppenheimer cut Integer from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Finally, Truist Financial set a $150.00 price objective on shares of Integer and gave the company a “buy” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.56.

Insider Transactions at Integer

In other news, CEO Joseph W. Dziedzic sold 338,975 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $123.17, for a total transaction of $41,751,550.75. Following the completion of the transaction, the chief executive officer now owns 47,000 shares of the company’s stock, valued at approximately $5,788,990. This represents a 87.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.16% of the company’s stock.

Integer Profile

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.