Principal Financial Group Inc. Reduces Holdings in Integer Holdings Co. (NYSE:ITGR)

Principal Financial Group Inc. trimmed its stake in Integer Holdings Co. (NYSE:ITGR) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,668 shares of the medical equipment provider’s stock after selling 10,641 shares during the period. Principal Financial Group Inc. owned 0.53% of Integer worth $20,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its position in shares of Integer by 10.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,427 shares of the medical equipment provider’s stock worth $141,000 after purchasing an additional 132 shares during the period. GAMMA Investing LLC lifted its position in shares of Integer by 60.9% in the 2nd quarter. GAMMA Investing LLC now owns 375 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 142 shares during the period. KLR Investment Advisors LLC lifted its position in shares of Integer by 4.9% in the 4th quarter. KLR Investment Advisors LLC now owns 3,996 shares of the medical equipment provider’s stock worth $396,000 after purchasing an additional 185 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Integer by 3.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,948 shares of the medical equipment provider’s stock worth $689,000 after purchasing an additional 205 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of Integer by 1.1% in the 1st quarter. QRG Capital Management Inc. now owns 31,368 shares of the medical equipment provider’s stock worth $3,660,000 after purchasing an additional 332 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Stock Down 2.5 %

NYSE:ITGR opened at $126.86 on Wednesday. The firm has a market cap of $4.25 billion, a P/E ratio of 43.90, a P/E/G ratio of 1.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.96 and a current ratio of 3.29. Integer Holdings Co. has a fifty-two week low of $69.40 and a fifty-two week high of $131.17. The firm has a 50-day simple moving average of $119.74 and a two-hundred day simple moving average of $116.54.

Integer (NYSE:ITGR) last released its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $436.20 million during the quarter, compared to analyst estimates of $437.00 million. Integer had a net margin of 6.31% and a return on equity of 11.48%. Integer’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. Analysts predict that Integer Holdings Co. will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ITGR. Benchmark reissued a “buy” rating and set a $130.00 price target on shares of Integer in a research report on Friday, August 2nd. Truist Financial began coverage on shares of Integer in a research report on Wednesday, May 15th. They set a “buy” rating and a $137.00 price target for the company. Oppenheimer began coverage on shares of Integer in a research report on Tuesday, July 16th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Citigroup lifted their price target on shares of Integer from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.86.

Insider Transactions at Integer

In other news, Director Jean M. Hobby sold 11,960 shares of Integer stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.66, for a total value of $1,431,133.60. Following the completion of the sale, the director now directly owns 2,280 shares in the company, valued at $272,824.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% 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.