Highbridge Capital Management LLC Takes Position in Integer Holdings Co. (ITGR)
Highbridge Capital Management LLC acquired a new stake in Integer Holdings Co. (NYSE:ITGR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,060 shares of the medical equipment provider’s stock, valued at approximately $668,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in Integer by 411.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,034 shares of the medical equipment provider’s stock valued at $104,000 after purchasing an additional 1,636 shares during the period. Zions Bancorporation bought a new stake in Integer in the 3rd quarter valued at about $174,000. Amalgamated Bank bought a new stake in Integer in the 3rd quarter valued at about $212,000. Bessemer Group Inc. bought a new stake in Integer in the 3rd quarter valued at about $220,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Integer in the 2nd quarter valued at about $260,000. 95.07% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on ITGR. Northcoast Research downgraded shares of Integer from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. TheStreet raised shares of Integer from a “c+” rating to a “b-” rating in a report on Wednesday, October 18th. BidaskClub raised shares of Integer from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. Royal Bank of Canada reaffirmed a “hold” rating and set a $40.00 price target on shares of Integer in a report on Friday, September 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $62.00 price target (up previously from $51.00) on shares of Integer in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.00.
Integer (NYSE:ITGR) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. Integer had a net margin of 1.42% and a return on equity of 11.22%. The company had revenue of $363.31 million during the quarter, compared to the consensus estimate of $354.83 million. During the same quarter in the prior year, the firm posted $0.83 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. research analysts forecast that Integer Holdings Co. will post 2.62 earnings per share for the current year.
In other news, Director Bill R. Sanford sold 20,605 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $46.00, for a total transaction of $947,830.00. Following the completion of the sale, the director now owns 63,606 shares of the company’s stock, valued at approximately $2,925,876. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas J. Mazza sold 23,123 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $46.16, for a total transaction of $1,067,357.68. Following the sale, the vice president now directly owns 26,123 shares of the company’s stock, valued at approximately $1,205,837.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,561 shares of company stock valued at $4,062,886. 4.80% of the stock is currently owned by insiders.
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Greatbatch, Inc is a developer and manufacturer of medical devices and components. The Company operates through two segments: Greatbatch Medical and QiG Group (QiG). Greatbatch Medical designs and manufactures products where the Company either owns the intellectual property or has unique manufacturing and assembly expertise.
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