PNC Financial Services Group Inc. Increases Stock Holdings in Integer Holdings Corporation (NYSE:ITGR)

PNC Financial Services Group Inc. lifted its stake in shares of Integer Holdings Corporation (NYSE:ITGR) by 11.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,605 shares of the medical equipment provider’s stock after buying an additional 362 shares during the period. PNC Financial Services Group Inc.’s holdings in Integer were worth $425,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ITGR. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Integer during the first quarter valued at approximately $33,337,000. Capital Research Global Investors boosted its position in shares of Integer by 16.0% during the fourth quarter. Capital Research Global Investors now owns 1,410,803 shares of the medical equipment provider’s stock valued at $186,960,000 after buying an additional 194,895 shares during the last quarter. GAMMA Investing LLC boosted its position in Integer by 8,697.6% in the first quarter. GAMMA Investing LLC now owns 78,123 shares of the medical equipment provider’s stock worth $92,190,000 after purchasing an additional 77,235 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Integer in the fourth quarter worth $7,889,000. Finally, Northern Trust Corp boosted its position in Integer by 14.2% in the fourth quarter. Northern Trust Corp now owns 422,380 shares of the medical equipment provider’s stock worth $55,974,000 after purchasing an additional 52,556 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Integer Stock Performance

Shares of ITGR opened at $106.76 on Friday. The firm has a market cap of $3.74 billion, a PE ratio of 47.03, a PEG ratio of 0.87 and a beta of 1.02. The stock’s fifty day moving average price is $115.34 and its two-hundred day moving average price is $120.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.41 and a quick ratio of 2.18. Integer Holdings Corporation has a 1 year low of $104.93 and a 1 year high of $146.36.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). Integer had a net margin of 4.61% and a return on equity of 12.27%. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $464.37 million. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Integer Holdings Corporation will post 6.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on Integer from $152.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, July 25th. Benchmark cut their price objective on Integer from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Truist Financial cut their price objective on Integer from $145.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, July 25th. KeyCorp cut their price objective on Integer from $154.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, Raymond James Financial cut their price objective on Integer from $150.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.25.

Insider Transactions at Integer

In other news, Director Donald J. Spence sold 14,739 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total transaction of $1,774,280.82. Following the transaction, the director directly owned 18,781 shares in the company, valued at approximately $2,260,856.78. This represents a 43.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin C. Maxwell sold 8,720 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $120.56, for a total value of $1,051,283.20. Following the transaction, the director owned 22,170 shares in the company, valued at $2,672,815.20. This trade represents a 28.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is owned by corporate insiders.

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.