Rhumbline Advisers Trims Stake in Integer Holdings Co. (NYSE:ITGR)

Rhumbline Advisers cut its position in Integer Holdings Co. (NYSE:ITGR) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,021 shares of the medical equipment provider’s stock after selling 261 shares during the period. Rhumbline Advisers owned about 0.27% of Integer worth $11,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Integer in the 4th quarter worth $38,073,000. Capital Research Global Investors lifted 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. Artisan Partners Limited Partnership purchased a new stake in shares of Integer during the fourth quarter valued at about $22,775,000. GAMMA Investing LLC lifted its position in shares of Integer by 8,697.6% during the first quarter. GAMMA Investing LLC now owns 78,123 shares of the medical equipment provider’s stock valued at $92,190,000 after buying an additional 77,235 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Integer in the fourth quarter valued at about $7,889,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Integer Stock Up 0.6%

Shares of Integer stock opened at $122.03 on Tuesday. The business’s fifty day moving average price is $118.82 and its two-hundred day moving average price is $127.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.95 and a quick ratio of 2.09. The company has a market capitalization of $4.26 billion, a P/E ratio of 36.32, a PEG ratio of 1.72 and a beta of 0.98. Integer Holdings Co. has a 1-year low of $104.93 and a 1-year high of $146.36.

Integer (NYSE:ITGR) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. The firm had revenue of $437.39 million during the quarter, compared to analyst estimates of $428.51 million. Integer had a net margin of 6.92% and a return on equity of 11.65%. Integer’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, research analysts forecast that Integer Holdings Co. will post 6.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ITGR. Benchmark decreased their price target on shares of Integer from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, April 25th. Citigroup upgraded Integer from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $133.00 to $140.00 in a research note on Thursday, May 22nd. KeyCorp reduced their price objective on Integer from $154.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Truist Financial set a $150.00 price target on Integer and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Raymond James lifted their target price on shares of Integer from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 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 company’s stock. Based on data from MarketBeat.com, Integer presently has an average rating of “Moderate Buy” and an average price target of $145.00.

Insiders Place Their Bets

In related news, CEO Joseph W. Dziedzic sold 338,975 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $123.17, for a total value of $41,751,550.75. Following the completion of the transaction, the chief executive officer now directly owns 47,000 shares in the company, valued at approximately $5,788,990. This represents a 87.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin C. Maxwell sold 8,720 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $120.56, for a total transaction of $1,051,283.20. Following the completion of the transaction, the director now directly owns 22,170 shares of the company’s stock, valued at $2,672,815.20. This trade represents a 28.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,434 shares of company stock worth $44,577,115. 2.16% of the stock is currently owned by company 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.