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

Lord Abbett & CO. LLC lifted its position in Integer Holdings Co. (NYSE:ITGR) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,120 shares of the medical equipment provider’s stock after buying an additional 9,754 shares during the quarter. Lord Abbett & CO. LLC owned about 0.86% of Integer worth $37,716,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. lifted its stake in Integer by 55.9% in the third quarter. Contravisory Investment Management Inc. now owns 223 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 80 shares during the last quarter. HighTower Advisors LLC lifted its stake in Integer by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 12,041 shares of the medical equipment provider’s stock valued at $1,579,000 after purchasing an additional 90 shares during the last quarter. Xponance Inc. grew its holdings in Integer by 4.9% during the second quarter. Xponance Inc. now owns 2,112 shares of the medical equipment provider’s stock worth $245,000 after purchasing an additional 99 shares during the period. Azzad Asset Management Inc. ADV increased its position in Integer by 0.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 11,572 shares of the medical equipment provider’s stock worth $1,504,000 after buying an additional 107 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in Integer by 15.5% in the third quarter. TD Private Client Wealth LLC now owns 1,420 shares of the medical equipment provider’s stock valued at $185,000 after buying an additional 191 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company reissued an “overweight” rating and set a $160.00 target price on shares of Integer in a report on Tuesday, December 3rd. Benchmark increased their price objective on shares of Integer from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price (up previously from $125.00) on shares of Integer in a report on Friday, October 25th. Citigroup upped their price target on shares of Integer from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Truist Financial raised their price objective on shares of Integer from $147.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Integer presently has an average rating of “Moderate Buy” and an average price target of $145.44.

Integer Price Performance

Shares of Integer stock opened at $138.71 on Friday. The company has a 50-day simple moving average of $133.78 and a two-hundred day simple moving average of $125.75. Integer Holdings Co. has a twelve month low of $94.56 and a twelve month high of $142.76. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 42.81, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The company has a quick ratio of 2.09, a current ratio of 3.28 and a debt-to-equity ratio of 0.67.

Integer (NYSE:ITGR) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. Integer had a return on equity of 11.63% and a net margin of 6.70%. The business had revenue of $431.42 million during the quarter, compared to analysts’ expectations of $440.59 million. During the same period in the previous year, the company posted $1.27 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts forecast that Integer Holdings Co. will post 5.33 EPS for the current year.

Integer Company 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.