Boussard & Gavaudan takes new $2.6M stake in Integer as stock nears record high
What's the deal? Boussard & Gavaudan Gestion SASDealroom has a profile for this one. Try Dealroom → opened a new position in Integer Holdings CorporationDealroom has a profile for this one. Try Dealroom → (NYSE:ITGR) during the second quarter, buying 28,153 shares worth roughly $2.6 million, according to a filing with the Securities and Exchange Commission.
What does Integer do? The company is a global provider of outsourced medical device design, development, and manufacturing. Institutional investors and hedge funds own 99.29% of its stock.
Why now? The stake was disclosed as Integer shares changed hands at $125.30, near a 12-month high of $126.14 and well above the 12-month low of $62.00. The stock's 50-day moving average of $107.58 sits far above its 200-day average of $94.48, signalling a steep recent climb.
The numbers: Integer reported quarterly earnings of $1.60 per share on August 3, beating the $1.38 consensus by $0.22. Revenue of $464.11 million topped estimates of $451.07 million, though it fell 2.6% from a year earlier.
The company posted a net margin of 6.97% and a return on equity of 12.79%. It carries a market capitalisation of $4.26 billion and trades at a price-to-earnings ratio of 34.24.
What could go wrong? Analyst sentiment has cooled. Benchmark, Raymond JamesDealroom has a profile for this one. Try Dealroom →, and Freedom CapitalDealroom has a profile for this one. Try Dealroom → all cut Integer to "hold" in recent weeks. One analyst rates the stock "buy" and 13 rate it "hold," for an average target of $109.86 — below the current price.
The signal: Boussard & Gavaudan's entry adds a fresh institutional buyer at elevated levels, even as the consensus price target implies limited upside. Other funds, including Barrow HanleyDealroom has a profile for this one. Try Dealroom → and Arax Advisory PartnersDealroom has a profile for this one. Try Dealroom →, have also built or expanded positions this year, underscoring steady institutional appetite for the medical device supplier despite a softening earnings trend.
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