Lord Abbett & CO. LLC Acquires 9,754 Shares of Integer Holdings Co. (NYSE:ITGR)

Lord Abbett & CO. LLC grew its holdings in Integer Holdings Co. (NYSE:ITGR) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 290,120 shares of the medical equipment provider’s stock after purchasing an additional 9,754 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Integer were worth $37,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ITGR. Contravisory Investment Management Inc. raised its stake in Integer by 55.9% during 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. Huntington National Bank grew its holdings in shares of Integer by 8,933.3% during the 3rd quarter. Huntington National Bank now owns 271 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 268 shares during the last quarter. Quest Partners LLC increased its position 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 purchasing an additional 332 shares in the last quarter. GAMMA Investing LLC lifted its stake in Integer by 74.1% in the 3rd quarter. GAMMA Investing LLC now owns 653 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 278 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Integer in the second quarter valued at approximately $110,000. 99.29% of the stock is currently owned by institutional investors.

Integer Stock Performance

Shares of ITGR stock opened at $138.71 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.28 and a quick ratio of 2.09. Integer Holdings Co. has a one year low of $94.56 and a one year high of $142.76. The business’s 50 day simple moving average is $133.78 and its 200 day simple moving average is $125.75. The stock has a market capitalization of $4.65 billion, a PE ratio of 42.81, a PEG ratio of 2.02 and a beta of 1.12.

Integer (NYSE:ITGR) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $1.43 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 analyst estimates of $440.59 million. During the same period in the prior year, the firm posted $1.27 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Integer Holdings Co. will post 5.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ITGR has been the subject of a number of research reports. Benchmark increased their price target on Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Citigroup increased their target price on Integer from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price target on Integer from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America upped their price objective on Integer from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, KeyCorp boosted their target price on shares of Integer from $139.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.44.

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.