Arizona State Retirement System Reduces Holdings in Integer Holdings Corporation (NYSE:ITGR)

Arizona State Retirement System trimmed its position in shares of Integer Holdings Corporation (NYSE:ITGR) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,622 shares of the medical equipment provider’s stock after selling 110 shares during the quarter. Arizona State Retirement System’s holdings in Integer were worth $1,135,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new position in Integer during the fourth quarter worth $27,000. AdvisorNet Financial Inc acquired a new position in Integer during the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in Integer during the first quarter worth $28,000. Bessemer Group Inc. boosted its stake in Integer by 73.1% during the first quarter. Bessemer Group Inc. now owns 296 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 125 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Integer by 472.9% during the fourth quarter. Sterling Capital Management LLC now owns 338 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 279 shares during the last quarter. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup upgraded Integer from a “hold” rating to a “strong-buy” rating and boosted their price objective for the company from $133.00 to $140.00 in a report on Thursday, May 22nd. KeyCorp reduced their target price on shares of Integer from $154.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Benchmark dropped their price target on shares of Integer from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Wall Street Zen raised Integer from a “sell” rating to a “hold” rating in a research note on Monday, May 19th. Finally, Raymond James Financial increased their price target on Integer from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $146.25.

Integer Price Performance

Shares of NYSE:ITGR opened at $112.51 on Friday. The company has a market cap of $3.93 billion, a P/E ratio of 53.32, a P/E/G ratio of 0.97 and a beta of 0.98. The company has a quick ratio of 2.14, a current ratio of 3.40 and a debt-to-equity ratio of 0.78. Integer Holdings Corporation has a 52 week low of $104.93 and a 52 week high of $146.36. The business has a fifty day simple moving average of $119.65 and a 200-day simple moving average of $124.39.

Integer (NYSE:ITGR) last posted its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. Integer had a net margin of 4.38% and a return on equity of 11.95%. The firm had revenue of $437.39 million for the quarter, compared to analyst estimates of $428.51 million. During the same quarter last year, the firm posted $1.14 earnings per share. Integer’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Integer Holdings Corporation will post 6.01 EPS for the current year.

Insider Activity at Integer

In related news, Director Donald J. Spence sold 14,739 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.38, for a total value of $1,774,280.82. Following the sale, the director directly owned 18,781 shares in the company, valued at $2,260,856.78. This trade represents a 43.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph W. Dziedzic sold 338,975 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $123.17, for a total value of $41,751,550.75. Following the completion of the sale, the chief executive officer owned 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,434 shares of company stock valued at $44,577,115. Insiders own 2.16% of the company’s stock.

About Integer

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.